Just like to update that this issue is solved.

Timing light issue was caused by slightly incorrect settings in spark duration (2 ms).
Overall issue was caused by the jumper being set to US and not UK (for Aus dm mx5's), which would not enable proper fuel flow (confirmed by fuel pressure gauge).

Tldr: I'm an idiot.

Thanks to both Matt from DIY and Nigel from flowforce for helping me troubleshoot.