I'm pretty ignorant when it comes to electrical stuff. What could have caused this to happen? What are the consequences? Is something broken? Can this cause something to break? What are my options looking forward?

Btw.... I know it needs a good cleaning

There is a lot of current going through that connector. Resistance has built up due to corrosion causing excessive heat which has melted the connector....that is why KTM put liberal amounts of dilectric grease in them from the factory...to prevent corrosion, but, as heat builds up, the grease gets displaced to the outside of the connector which looks like an oil leak (it isn't).

You need to replace the connector and pack it with dilectric grease.

Spare connectors parts fiche here viewtopic.php?f=18&t=16897

Was your bike dead? (dead battery). Mine died while lane splitting and I was able to bump start it while still rolling around 40mph, dash went crazy for a second then went to normal. I suspect ill find this under the chin guard.

I'm looking at this page but I cant figure out which one it is?

http://www.ktm-parts.com/pdf/TechBull/S ... ectors.pdf

EDIT: Also... can I run it as is for now or is it not safe?

Run it, she'll be fine.

IMHO No rush to get the connector. You can just splice (and insulate) the wires for now and install the connector down the road when you get one.

Also those yellow wires look to be the 3 phase AC power from the stator and if so they are interchangeable as far as the rectifier/regulator is concerned so you don't really have to worry about which yellow wire goes to which regulator wire.

Also a good idea to check the stator for proper output of each phase. I had this same connector fry on my gixxer and the stator was damaged by the event. But in my case 2 of the wires were completely severed and may have shorted or who knows what??? I had to limp home 350 miles on one phase of power. Luckily I had installed a voltmeter on the bike and could see that my battery voltage would very slowly recover after a start.

Bass.

This is my same connector from last month that had to be replaced. I think it must have got water ingress into it because Id been doing some serious miles at fast speeds in the wet and you know how badly positioned all this stuff is behind the front wheel.

Bike was running fine though. I just couldn't leave it like that so I replaced both connectors by curing the wires and replacing the connectors. As mentioned - pack with a load of dielectric grease.
spl

Yeah I think my issue happened after some riding was done in the wet as well Bic.

QR: I think you might be onto something there. I had recently had an issue with my HID not working properly and chocked it up to a bad ballast.... but it could be that my stator went bad and was causing issues as well. I'll have to check that. Thanks.

I had same problem on my Katana. PO incorrectly using excessive amount of dilectric grease on these connectors. Dilectric grease is an insulator so if its between the terminals resistance increases . Resistance = Heat hence the meltdown. Best to add dilectric grease to the connector after connection is made to prevent and moisture from entering it.

this happens to most aprilia RSV/RSVR as well. I would say it's common especially if you have multiple connectors in the chain.

Revisiting this issue. Parked my perfectly running '07SD before Christmas and plugged in the Battery Tender. Nice day yesterday, so I get it out for exercise. Hit the switch, slow to turn and SOFT indicator lights up on the dash. Pulled the cover and fuse on tender lead is blown. Look over at the R/R connector and it looks just like the one BassAgent posted. I got it all apart and cleaned up, but in my haste, didn't mark where the 3 yellow wires attached to the 3 black wires! Without a connector, how do I determine how the wires connect? The bike was running great when I parked it, with no indication of a failing R/R, but no idea how long my terminal has looked like this and if a failing R/R caused it?!? I'm not going to bother replacing the connector. I'll just reattach them, test the output, and insulate them individually once I figure out what goes where! When I test the stator wires, I've got continuity amongst all 3 leads. If this is proper, it wouldn't matter which wire went where?!? Just don't seem right?!? Any advice will be surely appreciated!
Later,
Dark

As above, don’t think it matters.

Kinda what I figured! I cleaned the terminals really well. Battery was 12.8V, key off, 12.5V key on. Started engine and it read 13.7v at idle, but dropped to 12.9V with revs and the 3 yellow terminals were HOT in seconds! Bad R/R?