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Yes it does. The kit doesn't talk to your garage door opener directly. There is a plug in unit that has two leads that you wire to the terminals on the door like you would for the wall opener.
Then when you flash your headlights the receiver unit closes the loop and triggers your door opener as if you'd hit the button on the wall.
It works quite well. I'd imagine most garage door openers are plugged into a dual outlet in the ceiling so you should have one of those free to plug in the receiver unit from the kit. Then the wires to run to the terminals on the opener are just the short distance from there.
The white wire goes to the blue/white wire on the headlight plug, the orange/white goes to the cig lighter wire (or any switched 12v line) the black wire goes to ground.
Don't know what another wire could be for. Maybe it's an antenna?
Mine has only 3 wires as well. The instructions have notes about what to do if the transmitter has both a white and a yellow wire. Not sure why you'd have a different version but the directions seem to account for it.
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