Ok, so I went over to my friends house to help him fix his bike and 3 hrs later this is what we have. The bike was running fine, then sat up for a while. Before I got there he had changed the spark plugs, drained and put in new gas, put in a new battery and checked the fuses. Neither of us are motorcycle mechanics but both are engineers / car mechanics...

Fuel pump primes and exhaust smells like fuel quite strongly so we are sure it is getting fuel. Cranks fine but never fires at all.

Neutral switch - good
kickstand switch - good
Bank angle sensor - supposed to be between 0 - 1 read 0.4 so it is good
Swapped the 2 relays in the tail cone with no affect
Cam position sensor - 505 ohm - Good i believe
voltage reading upstream of coil pack / plug - 0.2 to 0.3 V. (simple multimeter measurement without any type of peak voltage adapter) This is supposed to be 0.7 I believe which makes me suspect the Coil modulator.

Anybody successfully tested the coil modulator? The manual seems to indicate that we need a Honda specialized tool to plug in near the ECU to measure Peak Voltage. Please share your experiences along these lines.