Thats right. Basically there are three wires.
The small red/blue wire is the signal wire from the key switch that activated the solenoid. It;s working because you are hearing a click.
The one post is the + wire directly from the battery. You can follow it for 10" and see it goes right to the + post.
The wire on the other post of the solenoid (should be alone)is the one that goes to the starter, This is the signal wire to the starter that tells the starter to crank. The starter then also has a 10 guage wire that goes directly to the + battery post as well. So you see you actually have two starter solenoids, except one is built into the starter, this most likely is what is going out on your truck.
Use a screwdriver or pocket knife, make sure the key is in the ON position and the truck is in PArk or NEAutral (Stick) and arch the two starter solenoid posts together, the starter will bump. If it does, it could be your fender mounted solenoid is bad (doubt it)
the reason the starter may crank is because you are simply sending a little more juice to it's built in solenoid and thus you can get a few more miles out of it....
Try it and let me know if it works. If not, you can test the fednder mounted solenoid, if that checks out it;s rebuilt starter time! About $80 at a local alternator/starter guy.