Check the voltage to the coil , should be about 7 ~ 9 VDC & go to 12 VDC when you crank the engine .

Coil basic resistance test (wires off) is 1.5 ~ 1.9 OHMS between the two outer connectors .

Waxy stuff leaking out between the area where the plastic top meets the metal coil can is in fact wax (insulation) and means your coil is dead .

Lucky for you , Ontario Pick-A-Part is close by on Milliken Av. south of the I-10 freeway and you'll shortly find a nice brand new coil in there , if you need one , take along your Harbor Freight $2.99 multi-tester .

Please to note : if DPO has buggered upo the wiring in your truck and you find 12 VDC at the coil with the key on , you need an ignition coil that has 3.5 OHMS primary resisitance ! big differance here .

Never _ever_ leave the ignition key on whilst chasing electrical gremlins unless you put a scrap of plastic between the ignition points or you'll cook the coil .

If you're rich and decide to buy a new coil , get the better Epoxy filled one as it'll last longer .

I hope this helps...

-Nate
There is no problem so difficult it cannot be overcome by generous application of brute force & ignorance