OK, if it was on 3.3v I would leave it on 3.3V if it was me.The brown sense wire is shorted to a 3.3 V orange wire in the motherboard molex connector - the brown and orange are in the same pin hole.
Rick
It sounds you're doing everything right. Do you know if the computer it was pulled out of run fine with it? Perhaps the reason the PC was heading to e-recycling was due to a bad PSU?To clarify - I have the following wires
bundle of black (ground)
Bundle of orange (3.3V)
bundle of red (5V)
bundle of yellow (12V)
single wire - green, grey, purple, brown, blue and white
Rick
I have to admit I never cut the plugs of the many PSUs I used, but as you're connecting it correctly this should be fine. If it was me I would probably try powering it with green-black wires disconnected and connecting them then(so it has time to settle), but at the same time I have an atx PSU set up exactly like you did that works fine.