Its the dilithium crystal package from the Starship Enterprise warp drive module. Reality check - its a Judson Electronic Magneto which I recall was their version of a capacitor discharge ignition system combined with an integrated ignition coil. The two little men symbol was the give away. I am sad to report that I remember this from seeing the originals. What a waste of limited neural storage capacity!
https://mgaguru.com/mgtech/ignition/pdf/jud_mag.pdf
Capacitor discharge ignition was useful on 2 stroke engines because its very fast rise time was able to fire oil fouled spark plugs. It did have a very short spark duration which made it less effective at insuring a good fuel burn. For 2 stroke engines, being able to fire a crudded spark plug was the lesser of two evils trade off. Capacitor discharge ignition was never a good choice for a 4 stroke engine unless it was burning so much oil that it looked like an older Vespa motor scooter fogging the streets for mosquitoes.
The HV terminal of the integrated ignition coil was that tower sticking out of the device at the top of your photo. Since there is no HV cable from that terminal to your distributor, it is now obviously out of service. I suggest that you completely remove it and send it to a hazardous waste disposal specialist or donate it to the museum of bad ideas from the '60s.