Turns out the second bit wasn't a varistor, but a disk cap (.1mfd/50v)
I'm now trying to figure out what happened. It seems rational that the paper cap blew
first, but from there I'm not sure. It seems a bit bizarre that two caps blew at the
same time.
The paper cap was wired between the primary of a transformer and a large power resistor
that connected to (ground? the other side of the primary, anyway, and whatever that went
to). The second problem area was from the secondary of the same transformer. 4 leads run
to a stud rectifier bridge, and across each stud there is a .1mfd/50v disk cap dumping
into a 3.3ohm 2-watt resistor connected to the other side of the rectifier. This resistor
burnt up.
The only options I could think of was that the demise of the primary cap set up a
oscillation of sufficiently high frequency that the reactance of the .1mfd cap was
sufficiently low that enough current went through to overload the resistor, or (2) 2
capacitors went on the fritz, and on the second one the shorting whiskers burnt away
without blowing the cap because of the load resistor, which smoked instead, or (c) some
bizarre transient appeared on that winding that blew the 50v dielectric and was blocked by
the final output choke so that it didn't blow the final 7.5v electrolytic filter
caps.
And now for the question- I have new caps/resistor- should I look anywhere else for
problems before I plug everything back together? None of my theories sound really
convincing, and I don't want to blow anything else in this machine.