No, the timing light is powered by the battery and the pickup is placed over the high tension lead of cylinder 1..
You ground pin 12 to stabilise the base timing for adjustment by rotating the CAS. Stock position is 5deg btdc.
You said you can't find the connector. Pin 12 is the wire that this connector leads to (same thing). The placement of the connector is on the firewall near the washer bottle on VR4's.