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ok so another thought have you tried Static Testing the LBCD? http://www.ceniehoff.com/Documents/Ctrl_Hyperlink/TG53B_uid1252012258102.pdf
this requires you remove the terminals from it but it could be that the LBCD is disconnecting the batteries and its internal capacitors are bad and the...
what was the Ohms reading of the Field Coil Pin A to D? also un plug the Regulator and then start the truck and see if the voltage climbs if so you may have a shorted field coil.
you have a READ light on the 14V side. so if it is Red then that signals overvoltage what is the Voltage on your 14Volt Terminal on the alternator? double check that number and if possible check each battery to see if one is higher than the other. another test would be to swap the top and bottom...