[buzzinhalfdozen]

Where are you connecting the inductive clamp? Have you tried moving it near the plug end? Is the lite erratic or the timing erratic, or can't you tell? Does the engine run normally? I didn't see where you stated what wires you have or how old they are, older (with much use) sets can indeed start to leak. I've saw sets that when you turn the lites out in the shop and it's dark look like a fire works show. Also just a thought, make sure your power and ground wires to your lite as well as the pick up wire are not laying on or near any ignition wire. When wires start to leak a simple test with a spray bottle of water can locate the issue, with the engine running I'll lightly mist the wires with water and see if engine stumbles or I can hear arcing.