Kris, I am confused. Are you talking about a different part than in your other thread?
If you are asking about the PIP in this thread, my post on the other thread is a quick and dirty way.
Ok, The pick-up coil is the stator inside the distributor. Its proper name is the Profile Ignition Pick-up (or PIP). The PIP is responsible for base spark timing and injector timing. So it can be called the stator, pick-up, or PIP.
Then there is also the TFI module, which is under the air inlet on an SN95 5.0L. This is often generically referred to as the 'ignition module.' The TFI is responsible for spark advance (but has nothing to do with injector timing).
For diagnostics, see my post on your other thread - that distinction is what can help diagnose a bad PIP from a bad TFI.