I think you will find the toggle switch controls the power to the ignition system. Thats how it should be at any rate.
You’re correct about the timing tho, the starting mechanism does retard it to start then allows it to advance once the starter lever is released. I haven’t worked on my electric Jr Quad very much so I got discombooberated there a bit, my bad. But what I was driving at previously is that once the motor is running, its not a lever to control the speed, thats what I was trying to get across.
At least with the top covers and shrouds removed, you can see the original round armature housing which is what you see on the outboards before Evinrude-Elto went to the “verandah” style starter housing, as Sam Vance referred to it. I’ve never had an Owen-Dyneto equipped motor that had a switch that set a “high” or “low” rate of charging. Charging was either on or it wasn’t, as it was always understood that it was an automatic cutout point that the electrical system controlled relative to engine RPM. At speeds above (approximately) 1000-1200 RPM, the charging system kicked in and was governed thereafter by the regulator circuit. My Super C electrics have a three position switch; One is RUN, the middle one is “CHARGE” and the third is “START”. They were also equipped with a key switch for turning the battery juice on and off. The switch on the later model electrics was a lil different, as you’ve found out.
Hope this helps.
Best,
PM T2
He's livin' in his own private Idaho..... I hope to go out quietly in my sleep, like my grand-dad did..... and not screaming, like the passengers in his car...