An update for this project at long last. I posted the following reply in a thread I had started dedicated to the repair in a different sub-forum, but I figured it would be nice to update this thread, as well.
Okay, so almost a year after I actually bought this thing, I think we have finally found all of the bad components. Transistor q16 melted a leg, as seen in the first picture in this post, several transistors in the power guard circuit were physically broken, damaged, and/or leaky, resistor R34 was open, and the transistor on the heat sink (q19) that controlled the output transistors had a crack in it. With all of these components temporarily replaced, power guard no longer trips, however I have done no further testing. I will be ordering new components for each of these, adjusting bias where needed, and reporting back from there, once done. I, for the first time, am optimistic.
The first set of n4126 and c2240 replacement transistors that I had ordered from eBay turned out to be leaky and likely counterfeit, as Blue shadow had warned me here. I will be replacing them with suitable replacements, as genuine direct replacements seem not to exist. Only genuine, original transistors will be used in the amplifier circuit, and the replacements will be used only in the power guard circuit.
As for the output transistors mentioned in the above reply, I am still not certain if those are newer Mac replacements or not. I emailed Mac to see if they had replacements available, which they do, but they did not give me manufacturer part numbers. Upon testing this amplifier out, if I notice ANY difference in the channel with the replacement output transistors, I will contact Mac to buy their newer replacements, as they are only $20 plus shipping, and good peace of mind.