Gary, the way the WG works on the ats 093 turbos is it opens the flapper "into" the exhaust elbow that the down pipe connects to. you are partly correct and partly wrong lol. yes, when the wg for the 093 is fully functioning like the one on the OP's new turbo, you would adjust the threaded rod so you get what ever boost psi you want(ex. you adjust it so the WG opens at 10psi). so the boost pressure coming from the comp housing goes into the WG head and pushes on the diaphragm which then pushes the rod(let's say out of the WG head for easy understanding) then that opens the flapper inside the exhaust outlet/eblow. once your below the 10psi as used in our example, the spring(like the one you see in the picture on the old turbo) will then pull the WG rod back into the WG head, forcing the WG flapper to close and thus not allowing any exhaust gas to "bypass" the hot wheel and forcing 100% of the gas to go over the wheel.
this is why if you take the orange tube off the WG head like you see in the pic and plug it, you still need to secure the WG rod/flapper shut so it will not open do to exhaust drive pressure. So based on all of that, if that WG rod has the correct tension spring on it and now diaphragm, it could fully function as an acceptable waste gate for that turbo. that spring on there does look pretty heavy duty but i will let you know that it is a PITA to pull on that rod to hook it back up to the flapper pin on the outlet housing.