I'm around as this thread is highly interesting. I though all along why not use the built-in supply. However, I do not have any newer iMac to check the connection, and I also don't have the schematics.
If someone can post the MLB number, I might be able to find it. Also, model no. of the power supply (maybe it's here already). If someone already got the pinning of the Power supply to MLB connector, then that'd be best.
The signal on the 2011 was "PS_ON", and it had to bridged to GND to switch main power on. I'd guess this circuit wouldn't change, so suspect it's still the same.
Alternatively, a simple Flip-flop circuit could be used to generate a PS_ON from the (any) power button.
Update: I looked at some pics in the web, and it looks like the wires on the power supply are lumped into 4 connections only. I can't see the details there. Would help if someone can provide some closeups.
If several wires are lumped into a single solder point, it means this is a high-current connection and not a control point. I'd expect some control pins, such as for the SMB bus, so there should be some individual wire connections as well. Maybe just a few. It might be possible to trace these back to the respective chip (SMB comms chip, or MOSFET). A MOSFET would be for controlling the output, that's what you are looking for.
So, some close-ups of PCB tracks around that area plus the nearby chips/FETs might help.
View attachment 2369839
The large connector apparently only goes to the 4 huge solder points at the bottom right in this crop.
The small connector, if connected, must then be the one to handle the SMC bus and supply control. This image isn't sharp enough to see anything. I'd need closeups of the PCB tracks and the designations of the 3-legged components (the tiny one, and the two on the other side, mounted to heatsink) and the IC. The IC is likely the SMC chip. For supply control, the 3-legged surface-mount part is a bit small, that's not a power FET.
Possibly one of the components on the other side, mounted to the heatsink. They would be suitable to switch high currents. Likely the biggest one is for 12V/25A.