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Unless someone has touched up the original marks and added their own color scheme, I believe that red is the 27 degree mark. White is TDC and black is 5 degrees BTC, at least on a 1.7.
A number of things can cause the rough idle but make sure that you have the dwell properly set (44-50 degrees IIRCC) prior to setting the timing. You might find a Haynes manual helpful.
Keith
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