Nothing in the turn signal switch that will cause the problems you are having. I think you have problems with the extra wires that have been added from the '80 truck. You should have mentioned at the start of the thread that someone had cobbed in extra wires. How are they installed? Soldered, crimped or twisted together and taped? If it's like the mess that was cobbed in to my '56 when I got it, you'd be better off to rip it all out and start over. You can get a new harness from
Hot Rod Wires for $200. You are fixing to spend half that on a switch you don't need.
By the way, the canceling is done with a chilibob screwed onto your steering wheel. When you get the switch pushed back up where it belongs the canceler should work.