Your voltage measurements are right. The making and breaking of the primary circuit, to make the spark, only happens when the distributor is turning and the pickup coil is producing voltage changes (positive and negative current). The module breaks the ground circuit to protect the coil and module itself if the distributor's not turning.
Ignition modules are hard to diagnose with just a meter. Your best bet is to pull a spark plug wire and stick a spark plug in. Ground the plug threads, spin the engine and watch for spark across the gap.
The reluctor magnets on the ZX distributors are quite often broken, from the ones I've seen. If you have a used one and have never run it.
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