Only thing that may be a potential problem is the 2 wires from the coil
Is it possible I have the red and black wires in the wrong place? Should the red go to the condensor and the black to ground? Since the red wire on the coil was short I assumed it should go to the ground....
It is possible that your new coil is defective, but not likely.
Use your ohmmeter to check for continuity on the small wires. .....(Disconnect all wires from the coil.)
There should be continuity between the red & black wires.
Now check for continuity between the secondary terminal of the coil and the red wire.
Now check for continuity between the secondary terminal of the coil and the black wire.
Whichever wire has continuity between the secondary terminal and the other wire, that is the wire which gets grounded. ....The other wire goes to the condenser & points.
I'm guessing the black wire should be grounded, but I have a 50% chance of being right.
While you have your meter connected, measure the resistance of the coil windings, and record them for future use. .....It would also be interesting to compare your two new coils with the Tecumseh coil.