In theory, if there is fuel then there should be spark. I would suggest rechecking for spark. Pull the coil wire from the distributor cap, place end near ground - with a small gap - and check for spark. Don't hold the wire (high voltage) in your hand while you crank. Or you can use a timing light.

If there is no spark, and you want to recheck the hall sensor - you can bypass it as follows (from volvo problem solver for Bosch EZK ignition):
1. Turn key off
2. Unplug hall switch connector
3. Turn key on
4. Bridge contacts 1 to 2 on connector (can use a paper clip) for 1 sec
5. If everything (except hall switch) is working correct, the coil will spark and fuel pump will run for a sec when contact is removed.

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dnvolvo 89 765T 216k - 91 245 117k