I usually bypass the whole thing by grounding the Green/Red wire from the starter solenoid to the spare Green wire under the left side cover.
Honda replaced it all with a simple diode: see the 1976 F bike wiring diagrams for examples.
Only the 1978 bike had a green/red wire and a yellow/red wire coming from the solenoid. All the previous bikes, K3-K7s' had a solenoid with a black wire and a yellow /red wire.
The way the starter button has been wired differs from the early and the later models.
The later models have the starter button connected to ignition (black) and the solenoid (yellow/red) while earlier models have the button connected between the clutch switch (green/red) and the starter solenoid (yellow/red).
The ealier button connected the solenoid indirectly to ground (via clutch and neutral switch), the later to +12V.
The earlier type connected the solenoid's other pole to +12V (black), the later indirectly to ground(via clutch and neutral switch, green/red).
Now, if you have an earlier type harness and a later type solenoid, just connect the solenoid's Green/Red wire to black, throw away the SMSU and connect a diode (e.g. 1n5008) between LightGreen/Red and Green/Red at the SMSU connector. The negative pole of the diode (ring on casing) should point to LightGreen/Red. The Yellow/Red wire of the solenoid connects to Yellow/Red in the harness.
The green wire that had been connected to the SMSU is not required any more. The SMSU needed it to power the transistors.