Welcome to TRS
If fuel pump is working then EEC(PCM) relay is OK
But CEL should come on with the key, so probably a burned out bulb, PCM is getting power or, as said, fuel pump wouldn't start up
TFI is a self contain spark system, computer assists spark advance but TFI starts the engine.
Good read here with tests for TFI:
http://www.therangerstation.com/tech_library/TFI_Diagnostic.shtml
Obvious but have to ask
Rotor is turning when engine cranks, right?
If you haven't looked............
Spark starts with the hall effect sensor in the distributor.
It has 3 wires, a Ground, Reference voltage, and PIP out
Ford calls this the PIP(profile ignition pickup) sensor, it generates the PIP signal.
With cap and rotor off
Key on, spark tester on coil
Put a feel gauge or knife tip in front of the PIP sensors window, you should get a spark each time you insert and remove the feeler gauge.
If not then PIP could be bad but it does pass thru the TFI module so................
And just to test the coil.
Key on, spark tester on coil
Unplug TFI module connector, find the Coil wire, it runs to "-" on the coil.
Use a jumper wire to ground and then un-ground this wire, you should get a spark each time coil is un-grounded.
If not then make sure coil "+" has 12 volts if not that's your problem, if it has 12volts and grounding and un-gounding didn't produce a spark then replace coil.
Coils are very simple devices, power it up with 12v and ground, when you cut the ground it will spark, if it doesn't then it is dead.
PIP signal tells TFI module when to cut ground to the coil, like points did in old distributors, points open ground cut, points close coil powers up.
TFI is just one step past that, but it uses no moving parts that wear out and need to be adjusted every few months like points needed.
Module is basically heavy duty transistors that switch coil's ground off and on, with PIP signal, it also has a timing circuit that can advance or retard spark timing once PIP signal is established, so it all starts with PIP.
PIP is also the RPM on the tach, if you have a tach and it is no longer moving when cranking engine that could mean PIP is not present.
PIP is sent to the computer so it can time the fuel injectors, so one other test for PIP is to have everything hooked up, then crank the engine a couple of times.
Pull out a spark plug and it should be wet with fuel
If it is dry then no PIP.
Computer(PCM) sends spark advance "advise" to TFI module on the SPOUT(spark out) wire.
This is used because computer has access to TPS(throttle position sensor) and MAP(Manifold pressure) sensor.
Old distributors had vacuum advance, so spark advance could match throttle position and intake vacuum(engine load).
SPOUT is in essence the "vacuum advance" for the TFI system.
And like the vacuum advance it is not needed to start engine, just operates better with it
.
This is also why you disconnect SPOUT jumper to set base spark timing.
EDIT:
I read your post again, you have a new spark tester.....................can you test if it works on another vehicle, just don't like relying on untested "test equipment", lol, you can end up chasing your tail.
Even a lawnmower or motorcycle