The black/yellow wire "coming from" the switch box is the kill circuit line. If the mercury switch (tilts) and completes the connection the voltage which would have gone to the coils is sent to ground. Likewise, there should be one or two other "branches" in the black/yellow - one to the kill switch or man overboard button on the cowl (if equipped) and one going to the harness to head up to the control or keyswitch.
The ignition on these does NOT work on DC until after the switchbox and it's considerably above 12 volts.
The stator produces upwards of about 360 volts AC that it sends to the switchbox. The switchbox converts it to DC and stores it in a capacitor (or a number of capacitors depending on the number of cylinders). The "trigger" tells which sparkplug to fire by sending an AC pulse to the switch boxes SCR (a relay switch) which then releases the stored DC in the capacitor to the spark plug coil. The coil up converts it to somewhat north of 85,000 volts (if I'm remembering correctly) which jumps the gap on the plug and lights up the mix in the cylinder.
You CAN NOT test the stator or trigger with a standard multi-meter, you need either a direct voltage adapter for the meter OR a direct voltage meter (DVA or DVM), not something that most guys have in the tool box.
There is NO WAY to test the switchbox so you have to test everything else in the system.
You can check the resistance of the windings in the coils (and the trigger and stator for that matter) to see if they have continuity or not, but that only tells you if the copper winding is intact and not if it's "leaking" (cracked housing) or producing the required voltage - and trying to hook up a meter to a coil looking for 85K volts is just asking for a bad hairdo
Someone will jump in here (I'm sure) with the exact link to either ebasic power or maxrules websites which have a step by step to test your ignition at home (at least to the extent you can) with a ohm or multi-meter...