You may have a bad pulse switch. With the ignition ON, try shorting the black wire and the white wire coming from the ignition box (to the pulse switch). Use a bent paper clip (or something similar) at the female Deans connector.

This test performs the same function as the pulse switch and you should get a spark each time you short the wires. If it sparks when you do this, you need a new pulse switch. If not, send it in to CH Ignitions for a check up.

What I believe is happening is this. When you turn the ignition OFF the pulse switch goes to LOW state and the ignition fires the charge in the output Capacitor. This tells me that the ignition is good and the pulse switch is not.

Also check the gap between the magnet and the pulse switch - it should be .020 (or the thickness of a business card.