Your alternators are (
[EDIT] absolutely should be!! [/EDIT]) isolated ground, if a stud was spinning it's probably because the nut inside was not tight - having that fall inside is a good way to have an electrical fire start... You should have two fat wires coming out of that alternator too - since it's isolated ground, it can't be grounded by bolting it to an engine like other alternators - it needs that second power wire to ground. IT also goes without saying that if you use a non-isolated alternator in the CUCV system and hook it up to 24V, it will go "poof", and let that magic smoke out that makes electronics work (you want to keep the smoke in
).
With the two wire connector unplugged your alternator should do nothing. The wire furthest from the positive output lug is the voltage regulator power supply, the one closest to the positive output lug is the idiot light wire. When you turn on your ignition, the switched positive supply for that alternator is provided to one side of an idiot light bulb - the wire from the other leg of the idiot light goes to that terminal on the alternator. The voltage regulator in the alternator has that wire connected to the field coil which charges the alternator's rotating assembly. If that charge should fail the idiot light would be grounded through the field coil and would light.
If you measure across your two fat wires at the alternator you should see ~12V for the lower (driver's side) alternator, and ~12V for the upper (passenger side) alternator. If you measure from the positive output of the lower alternator (driver's side) to a chassis point of the engine block you should read ~12V, the upper alternator (passenger side) should show ~24V. Once you've seen this, that means your power wires are probably good. If not, you have some new cables to make.
If you stick your meter probe into the two pin connector removed from the alternator with the key on, but the engine off - both pins should be 12V relative to the ground wire from the alternator you removed the plug from. If not, you have a control wiring problem. If you turn the key off, only one of those wires should be powered.
Can you take a picture and post it of the wiring for each of your alternators?
Others are going to ask: have you read the TM's? It's good advice, they have a lot of troubleshooting info in there.