If I may, let me guess again, but this time as to the way the original switch works.
When EITHER forward or reverse are 'pushed' the L1 connects to the other L1. The L2 connects to the other L2.
Can't tell which is forward or reverse, but I believe the other 5 terminals switch as follows: ("A" is one direction and "B" is the other).
A= T5 to 5(r); T9 to 2 = red to yellow; redtracer to blacktracer[A.O.Smith]
B= T5 to 2; T9 to 5(l) = red to blacktracer; redtracer to yellow[A.O.Smith]
A= black to purple; red to orange[GE]
B= black to orange; red to purple[GE]
If ANYONE can either verify or correct this PLEASE do.
I don't recall if you mentioned which motor you have.
The terminal designations(L1/L2/T5/T9/5/2/5) are taken from page 15 of mark 7 manual as posted on SSUG.