Dont know if this will help, but when i was working on my 954 streetfighter project the tip sensor (mounted by the forks) was slightly tunred at an angle from poor mounting and the fuel pump would not turn on. i moved it ever so slightly and mounted it a little better and now its fine.
good luck on the project and post some pics here, i would love to see it

 

Still no cure. I completely replaced the harness with a new one and I even used an ECU that is known to be good. Still, same problem. None of the Honda dealers have any idea about the theft device. They said they will look at it for 80 bucks/hr but I will never do that. I will look at it again this weekend but if this does not work, I will probably be putting the motor on ebay. It is a great motor other than the electrical lockout problem.

 

hi, mate. do you sorted your problem? i am very interested in this problem. please let me know.

 

Still no luck. I have been busy at work and have not had the time to work on it recently. I needed a mind break from it but I will look at it again this weekend...probably for the last time. I know it is something extremely simple that is just not in the manual.

 

If your getting 12v on the pink wire that means the resistor in the ignition switch went bad. You need a new switch and that baby will fire right up!!!

 

I did buy a new ignition switch for the 02 954. It was in a sealed bag when I opened it and I immediately ohmed everything out to see if there is a diode or resistor, etc. To my surprise, there was nothing. I assume the dealer gave me the correct switch, it plugged in normal, it looked like the picture, etc. I tore the switch apart before I sent power to it and it was just straight contacts to give 12v to the pink wire. I guess I could have been sent the wrong switch but I have not had anyone tell me exactly what is going on in the switch or sent pics of one taken apart.