Well as I suspected in my previous post I had blown the FET controlling the spindle motor. And when I say blown, this was pretty magnificent. I have never seen a FET with a great crack in it like this.

I will find a replacement part and solder it in.

Here is a link to a similar disaster with the load resistors blown at CNCZone http://www.cnczone.com/forums/chinese_machines/200496-3040t-dj_-_t-d_3axis_controller_-_burned.html.