Well, it's a ground side switch to give spark (positive flow from little pink wire completes the circuit, if control ground is working)... so using an incandescent test light hooked to ground you should have pulse when cranking the engine at the BLACK connector (smaller wires) on the Ignition Coil, the WHITE wire is the control from ICM. When testing, leave the GRAY & BLACK connectors connected. You'll be backprobing or piercing through the wire to test.
If this pulses, you have a bad Ignition Coil
No pulse, bad ICM under dizzy.
You can also test for coil spark using the same Incandescent Test light connected to ground to verify spark out of the coil. NEEDS an AIR GAP, as in don't touch the tip of the test light to the coil output (goes to center of dizzy), just let it hover and you'll see the spark.
You may want to disconnect the injectors at the TBI so no fuel is emitted.