The PCM uses a bunch of different grounds, and it might even have a separate ground for each bank of the engine to drive the coils with. You might want to check all the grounds.

 

That has been kinda where there was heading, but it didn't make sense with the timing of blowing an O2 sensor.
One last gasp, since the PCM is grounding these circuits to fire the plugs, check the PCM grounds/straps.
Loosen the whole PCM and reseat it.

 

There is one other bank dependent component that hasn't been mentioned.
After power goes to all the COPs the RD/LG wire goes to the front of each head and connects to an Ignition Transformer Capacitor used for ignition RF interference suppression.
Shouldn't have anything to do with this, but you can pull the connector to see if it makes any difference.

 

Tonight I loosened the PCM as well as removing the harness. I checked the 7 known grounds in the harness according to an old expired TSB 02-11-3 that had bad PCM grounds which caused transmission problems. If I knew which were the grounds for the coil banks I would check those also but cannot find a pin out diagram. I then put it all back nice and tight.
I connected my coil & plug rig from the picture above to the working bank just to be sure the rig worked. It did spark so it is 100% no spark on the passenger bank.
Then, with KOER, I back-pinned a connector on the working side + as well as the nonworking bank coil. It is about .5 volt difference which should be the voltage drop of working vs nonworking.
Then I back-pinned the coil grounds the same way. With key removed I get .532 kOhms on each bank coils. I assume that is through the coil and something else on the same circuit and back to ground. But at least both sides are the same. Then with KOER they both cycle as I described before, from OL (Open) to 0.00 (Closed). The only weird thing here was the good side cycled every almost 2 seconds or so and was a bit erratic. The bad side was probably cycling less than every second and was dead even... like it was flashing the time on a just plugged in microwave. I recorded a video and am going to see a mechanic tomorrow.
I think I am done. My understanding is replacing a PCM requires programming it on site. I will see what a professional can do and will report back. I always hate when I read 5 pages on one of these threads, trying to make a fix, only to get to the end and I'm left hanging. Usually it is "I am taking it to the mechanic and will report back what they find."

 

You might try checking out a guy on ebay that sells/programs PCMs based on your VIN.
I searched on my PCM's part no. and found a listing where the PCM was $179.

 

I have one on the way. Ebay $262
http://www.ebay.com/itm/282534019073

I should have it late next week.
I also got the schematics of all of the PCM wiring with pin-out. I will try and post them in case they can help future people

 

It was the PCM. New installed and all is well. Thanks for everyone's help.

 

That's great you found the problem.
Do you have the PCM schematic?

 

Sorry for the delay, there was a family illness. These were inadvertently printed on Napa paper but did not come from Napa.