can you see if yuo are getting spark out of the coil? disconnect the lead from the dist. and put a screwdriver in it, place DO NOT HOLD the screwdriver close to a metal ground, have someone crank the car over adn see if you have a spark jumping from the coil lead to ground. IF so then rule out the Coil, remove a spark plug lead from any cylinder and do the same thing, could be a bad rotor and dist cap.

I believe a 94 model, you can get the ECU codes from the DIAG box under the hood
go to www.volvospeed.com and bay13 gives instructions, you don't need a OBDII scanner for your year model car.

Dan