Stephenson, my two cents would be to go to the dealership and just buy a replacement. That was my personal choice, although I could see where someone might find that to be a hasty expenditure (it is a $50 part). Bypassing it will guarentee you the improved performance, and leaving the old part on there will likely leave you with the desired protection, but a new part gets you both and saves you a lot of effort. I do not imagine that the solenoid can really be fixed even if you find it has failed (you would have to replace it anyway). Maybe try cleaning/checking electrical contacts first. Bypassing it won't cause an immediate threat, assuming your wastegate is functioning properly. I personally like having the failsafe there. Maybe I wasted my money on new parts, but I got peace of mind and feel good about what's rigged up in there now. 
That said, I still have the old solenoid to play with and learn from ... 
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1987 300D, arctic white/palomino--314,000 miles
1978 240D 4-speed, Euro Delivery, light ivory/bamboo--370,000 miles
2005 Jeep Liberty CRD Limited, light khaki/slate--140,000 miles
2018 Chevy Cruze diesel, 6-speed manual, satin steel metallic/kalahari--19,000 miles
1982 Peugeot 505 diesel, 4-speed manual, blue/blue, 130,000 miles
1995 S320, black/parchment--34,000 miles (Dad's car)
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