OK, the way to test any HEI is really simple, of course it's helpful if it's in the failure mode when the tests are ran. ....otherwise all bets are off.....
first off, see a full 12 volts on the thick red wire, engine still, but key ON....
then on the 'tach' wire see the same 12 volts, if NOT....the coil is bad, no question about it.....IF you do have 12 volts on the tach wire, and the thing is still dead, NO SPARK, you either have a bad module OR you have a defective most likely OPEN sending unit coil....they DO fail with heat and open up, hense no trigger for the module to fire on.....
if the spark coil opens up, and they can be intermittant too....the wire if fairly thick so it's not just a bad construction in the windings that heats/cools and opens the wire up.....it's the crimp connections on the two terminals, red/wh/yel depending....they crimp the connectors right through the formvar magnet wire insulation,....a VERY BAD PRACTICE....can cause all sorts of open coil symptoms....I have caught one of these pants down proven, soldered the connections on that coil and never had another problem...
symptom....no 12 volts on the TACH lead....
obvioulsly an HEI needs a good solid HARD 12 volts, not that series wire resistor found on most points ignitions in GM....
this posted off corvette forum. also older vehicles had resistance wire to ignition and if run hei with less than 12 volts you will have problems. hope it helps