"What if the fuel pump seized. Would it throw a fault for over-current and have the ECU hold back spark as well?"
No, the DME ECM has no direct feedback from the fuel pump.
It's simple to diagnose a '97 993, i.e. just connect an OBDII scanner - all the data will be there.
"How could I check the fuel pump? Where is it located and how can I test it / jump power to it without destroying it?"
A waste of efforts, do the easiest tests 1st, i.e. test for spark.
Read here;
http://www.systemsc.com/diagnostic.htm, it should be helpful.