Fender Red Knob "The Twin" All Kinds of Problems

[Chuck H]

As a matter of knowledge to test if the reverb transformer is working or not i just need to plug the one of rca terminals to one of the speakers.

Sure, you could do that. It won't tell you any performance particulars but it will demonstrate that it's transforming voltages. You might also test for continuity both where it should be and where it shouldn't.

[Jquijano]

It generates the reverb effect but not as lush and defined as the fender twin reverb.

[g1]

If you are getting some reverb sound, then the reverb transformer is not the problem.
I never found any "The Twin" to have as good a reverb sound as a standard Twin Reverb.
How many of these "The Twin" amps do you have?

[Tom Phillips]

...Still thinking if it is really necesary to swap the original 470 ohms carb composite resistors and 1.5k 1/4 watt resistors on the Power tubes. Only one measured 465 ohms, the other ones measured 472, 471, 473 ohms.

I didn't see an answer to this so I'll let you know that the 470 resistors are fine with respect to their resistance readings. They are well withing tolerance and you won't get any benefit by replacing them.