Soooo.... this ignition system is like nothing I've ever seen on a Honda. Now, that said, I've never played with the mo-peds.
This is an A/C ignition system. It functions much differently that any other because of using A/C current.
The wire that comes to the coil from the stator is also the signal wire from the points. The points simply ground out the wire when they close, and when open, it lets the current go to the coil. (Electricity always follows the path of least resistance.) I cannot find any info on the voltage that the A/C generator puts out, but can tell you that you will not have any luck testing with a test light. My suggestion is finding out how much A/C voltage that is supplied to the coil for spark, setting the points open all the way so that they cannot close, and spin the engine and see if it is making power. Then test further from there. My guess at this point is that the winding responsible for power to the coil in the stator is bad/open. There are 3 windings in the stator. 1 for the ignition, and 2 for all other power sources. Depending on year, the voltage fed to the coil may or may not be direct fed. On some models it feeds through a silicone rectifier before going to the coil. Near as I can tell, this is just to feed extra voltage to the ignition coil, from the other two stator windings, during low voltage situations. (I.E. starting and sitting idling with all the lights on.)
I suggest you find a book or PDF of how to do a component test. I found a PDF of the supposed Honda manual for that machine, but outside of tear-down and assembly, it was vague at best.
Holler at me if I can help.
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