“As far as I can understand the Zener Diod would lower the audio DC to 17V if it starts to exceed 17V after the M5230L (looking on the positive side of it). It does this by opening up a current flow from Cathode to Anode.”
Yeah something like that. It might be more accurately stated the zeners limit the maximum voltage at the output of the +/-15V bipolar supply to +/-17V.
The M5230L is a dual-tracking bipolar voltage regulator. Its job is to ensure stable and constant output voltage, in this case +/-15V. It also does some ripple filtering. If it fails the voltage could go low, or go to zero, or it could be unstable, or it could go high, and as mentioned in an earlier post the limit of that high voltage is up to whatever it is at the input, which could be, in the case of the JUNO-106, as much as +/-26 to 27V. The zener diodes ensure the output voltage can be no more than +/-17V.
“Now what I like to understand is will it make the fuse (F2 and F3 for the negative part) to blow and thus hopefully saving the downstream systems?”
Installing the zener diodes have nothing to do with the current protection fuses F2 and F3.
There are several things that need to be safeguarded:
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Reverse polarity (making sure the + rail can’t go - and vice-versa). The output diodes (whether rectifiers or zeners) do this.
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Over-voltage…ensuring the output voltage cannot exceed a safe level. Installing the zener diodes in place of the rectifier diodes at the outputs accomplishes this.
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Over-current…ensuring that, in a failure state where the powered system or systems draws too much current, which can permanently damage the system components electronically or mechanically, the system is cut off from power. Fuses blow because the current drawn by the device is too much.
F2 and F3 will blow if there is too much current flowing, regardless of the output voltage. The are in the system for that reason and adding extra protection to limit output voltage does not change how they will respond to an over-current condition. Nor will an over-voltage condition necessarily include an over-current condition. Electrical components can be damaged if the system voltage exceeds their limits, or the amount of current exceeds their limits. Installing the zener diodes adds protection to prevent the regulator from allowing an over-voltage condition in a failure state.
“Can the 1N5354 handle all the current without blowing itself before the fuse does? Also I wonder if one could use 1N5353 16V instead or is it too close to 15 so with tolerance in regard it might be on the trigger to early and drain some current?”
The 1N5354 is a 5W part. That means it’s rated for about 300mA current at 17V…about 330mA at 15V. The fuses F2 and F3 are supposed to be 500mA rated. So now you might be thinking the zener diodes will fail before the fuses blow in the event of an over-current condition. But that’s not likely the case. Electrical components are usually rated to last some amount of time at their maximum electrical and environmental limits. Like an electrolytic capacitor might be rated to last 1,000, 2,000, even 10,000 hours at its maximum rated electrical limits like voltage, current, ripple, and maximum environmental conditions like temperature…which could be 85, 105, 125 or more degrees celsius…and components may last for short periods of time above these limits, since they can tolerate long periods of time at those limits. The fuses, however, are designed to fail instantly when their limit is breached. The fuses are designed to fail before anything downstream fails. Including the 1N5354 parts.