Is there a chance that the throttle position sensor may be out if whack, if I understand things it's an ohms reading that I might need to check.
If so I need a multimeter, so a trip to the tool store as my fluke has had an accident and requires a new screen.
245 running early 740turbo
Sunshine 245 yes that is a possibility, there may also be a configuration in the microsquirt something along the lines of "minimum tps"
What this does is tell the computer if TPS <1% then enable idle control.
If the actual TPS is out (lets say 2% open), then the idle control circuit won't enable because its above the minimum tps threshold
also just thinking out loud, check the part number on the TPS itself
I wonder if the previous owner used an lh2.4 on/off or changed it to an 850 style potentiometer
May I suggest you give Jake @ West Coast European in Bayswater a holler, he looks after our 142 and 245, used to be at Perth Swedish. Highly recommend!
KBee awesome thanks mate I will hit him up
You need a tuner that knows MS
6 months later
nugget_940 it's got a Bosch 0280122001, so a potentiometer I believe
Is the Microsquirt only running the fuel side of things? not the sparks too?
GingerNinja it has a distributor controlling spark and a hall effect? sensor for rpm input to the squirt
Sunshine 245 yeah but what fires the coil, the microsquirt or the stock 240 ignition controller?
@Sunshine 245 If it is a potentiometer type TPS, as @nugget_940 mentioned it may be a case of re-setting the fully closed and fully open positions again in TunerStudio.
Microsquirts have a single wire tach output to run a gauge which you should be able to connect to the cluster tacho and it will "just work." TunerStudio also has a tach gauge in the software which displays based on whatever timing sensors you have (crank trigger).
It looks like this car was originally LH2.2 and for a crank trigger the previous owner has connected the factory hall sensor that's built into the distributor up to the Microsquirt.
The MAP sensor (looks like a GM one) is cable-tied to the firewall brace on the passenger's side.
My guess is the Microsquirt is currently only being used for fuel but maybe check where the wires leading to your coil go.
Also if this is who I think it is: hope you're doing well - haven't seen you in ages!!
I'm still in Perth and have just wired my car up with a Microsquirt so I have a bit of knowledge on it, although am definitely not an expert, and it isn't driving yet, but if you need any advice let me know 
10 days later
- Edited
I think the car has great potential. I would approach the problems as being difficult since the previous owner must have had considerable knowledge but could not solve.
I would first download all the literature on both the cars, https://ozvolvo.org/archive. Then browse both the ignition and fuel systems. Look for diagnostic procedures.