mediy: I can't see any D5 in the Bass Butler, if you mean the diode (D1) that is between the power input and ground then it can be a normal 1N4001, the symbol is not a zener but a schottky diode in the KiCad software.
I would place a resistor between the power in Jack and the PCB to make it a sacrificial resistor in case of a wrong polarity power supply used.
My preferred method is to use a 1N5817 diode along the wire between the power inlet jack and the PCB.
I solder the diode to the power in jack and a wire to the other end of the diode to go to the PCB, cover it in heat-shrink tubing and its finished.
Tuck: I think I have the same component tester as you, or a very close clone, they are great but I wish I had a case for it.
Silicon Chip Magazine in Australia have a great little tester project in this months edition, the article continues next month.
It uses a PIC chip and a small display to show what it tests, and PCB arms as tweezers, and the PCB pattern and program for the chip is free to download if you want to make it yourself.
https://siliconchip.com.au/
I would make one but my eyes aren't what they used to be, it would be great if someone made a kit version with a through hole IC instead of the smd chip. Hardly any components for a great tester that can even display a square wave of the signal.