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I’ve seen this a few times. I actually have a couple of Caille rowboat motor flywheels that have received this treatment. Don’t usually see it on Evinrude or Eltos tho.
I don’t know what the logic behind it is because if there is a new slot cut into the flywheel hub but the original keyway location in the crankshaft doesn’t change to suit then I don’t see how the timing would ever allow the motor to start. Its the reason that Johnson crankcases had the arrow cast into them, to make sure you had the keyway in the correct orientation when assembling the powerhead.
I would state the incredibly obvious, which is that putting it on one way will give you spark at the right time, and the other way won’t. can’t even venture a guess as to why its got two key slots. All the key slot really does is ensure proper timing so as the automotive folks like to say, this Foldlight flywheel has a built-in failure mode.
Is there any sign of a weld repair and machining on the crankshaft taper? One possibility is if the taper was welded up and the keyway cut into the wrong position. You might have to compare it to a known good OMC twin crankshaft to figure that one out. Just something to look into.
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...