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it is a device that allows voltmeters to read the fast high peak voltages that occur from stator charge coils and trigger coils. Basically a high voltage capacitor which stores spikes.
A replacement would be a oscilloscope which can deal with such spikes. So basically its a poor mans scope...
i've also heard of DVA adapters for standard multi meters...are these availible at chain type auto parts stores like autozone, advance etc...or is it a special marine app type deal that you have to get on-line or what not?