I'm guessing it is the turn signal flasher.
A pulse coil triggers the ignition to fire. An exciter coil provides voltage in an AC system. Battery supplies voltage in a DC system.
It's not a Hall Effect trigger. It's not on a rotating part of the engine; how could it trigger the spark? It's in the left side case (as I already said) & it's completely epoxied solid. I'll go take pictures. Be back in a while. The component is right in the center above the brake light switch.
You could always unplug it and toss it in the trash.Then, when something on your motorcycle doesn't work you can say, "So! THAT'S what that thing did! Now, where I toss it?"
Many modern ignition systems have a condenser (not like those on a points set up) to provide seamless voltage flow and spike protection, possible?Roverman.