The flasher relay will be inline leading to the bulbs. One hot lead that splits AFTER the relay through the flasher switch. The idea is that the current flows through the relay.
You can tell if the coil is grounded by checking continuity between the output lead and the stator plate. If it only has one lead, it must be grounded or it will put out no power because there will be no way to complete a circuit. If there are two outputs then either they are the "ends" of the stator winding, which neither will have continuity to ground, or one is a center tap and they will both have continuity to each other, but also ground. Using the center tap will be a waste in a rectified setup as it will take away from the longer winding lead. Some stators (like the hobbit 77 stator) have a center tap "sort of" that has a very short amount of winding all to itself inside the main winding. The effect is similar but accomplished differently. This gives the illusion that it is a true tap and also that the main winding is larger than it really is. I found this when I hand wound mine and was disappointed by the thought that I had for the longest time leaving one of the outputs floating in the wind assuming it had no use.