Greetings . . .
What is throwing me when I look at this picture is the round water-neck like elbow fitting on the front of the head - it seems to be plumbed to a dry sump? The stock water pump looks like it is still there - driven by a separate belt on a pully in front of the larger pulley on the right.
But the usual water jacket opening - the slit just below the valve cover - doesn't appear to be plumbed at all.
As for the front cover, it looks almost purpose built for what is apparently a magneto. It looks like there's even an enclosed channel for the plug wires, including a flexible sheath running up to the head.
curious.
stock49