I would tend to beleive there was an explosion because some of the controllers that were mounted through the front cover it blew out onto the floor. The fuses themselves are pretty much intact except for some of the metal burnt off.
You are right about the 200k. The 20k rating is for DC.
The wire termination connection was definatly less then ideal. I noticed on some of them the insulation was not stripped back far enough and some of it was under the clamp which is obviously a problem. However, that did not seem to be the culprit in this incident because there were no signs of overheating at the terminations themselves.
The only place where I saw signs of overheating were the fuse clips themselves. And when I pulled the fuses out of the clips the clip had no discoloration where it made contact with the fuse.
That to me seems like the heat was not generated due to a weak fuse clip.