Your problem is a no spark under load problem. The inductive light is triggered when the electromagnetic field of the spark going through the wire is sensed by the inductive lead on the timing light. The light not flashing means that the spark is going somewhere else (not through the wire) or it's not sparking at all. The CDI is a possibility for the not sparking at all but I would also check the plug wire and terminal connections for any place it may touch and be grounding out. This will look like a lead pencil mark on the wire or terminal caused by carbon tracking from the spark jumping. I wouldn't do anything to the fuel system until you resolve the spark problem. You may create a new problem before you fix the old one. Good luck and happy hunting.
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