check your wiring, is the trigger coil plugged in to the right spot on the mpem? How did you check stator voltage, there are three legs all yellow from the stator all should have voltage.
Mpem's rarly go bad, its typically a bad connection at one of the pins in the connectors going into the mpem.
The tether, stock off-on-off, and light low/high switches are notorious, after you trace bback your problem replace the off-on-off with a Honda CR rubber hold down switch, round file the tether switch.
Still have not found a good replacement for the low/high.
Are you testing on AC or DC volts? Everything that comes out of the engine is AC and is then rectified to DC with the reglator. You should be getting at least 10 VAC when pulling it over out of the yellow wires (three wires in a round plug). The trigger coil will only put out a couple of volts AC (two wires in a rectangular plug, blue/yellow and ?) Also check any of these wires for a connection to ground, there shouldn't be one.