Paul
I referred this post to a GM mechanic friend and here is his take on your mod.

It should work but it won't step up the voltage on it's own. If you want a stronger spark you need to have a coil with more windings and increase your spark gap. What the module should do is take away what I call "spark float" where you reach a certain RPM and you essentially float your points electronically, this happens before they physically float... the arcing across the points reduces your dwell time so much that the field does not have time to build fully, therefore you actually lose spark before your points physically float... The module will allow you to run a high output coil and not increase the arcing of your points, higher output coil and increased plug gap will give you a stronger spark... all of this should add up to smoother running and more power as well as increased fuel efficiency, on any conversion I have done from points to electronic the difference has been drastic.
Steve
ps have you found a home for your extra module? I like the approach that you can reverse it in the event of a component failure.