I had the same symptoms and did the same test and got the same results. I also checked all the wires for breaks, nicks, looseness etc. I then borrowed Midlifespeed’s igniter and it fired right up. I used Arlan’s igniter to ride to the Triumph shop then put mine back on and returned Arlan’s. The shop started by adjusting the pickup coil then called me and said it was running. It was about 4 days til I could go pick it up and, guess what, it only ran on one cylinder. The shop then contacted Triumph and they sent a new igniter, from the UK. It took like 2 weeks but that fixed it. Now my bike is an 04 and 2 yrs out of warranty but Triumph fixed it with no cost to me at all. Now that’s doin me right and I applaud them for that.
I would suggest ya go the same route I did and see if ya get the same result.
The only downside was, I was going to the Georgia Rally and the igniter didn’t arrive til the Thur during the rally so I didn’t get to go. That sucked big time!!!
