TVO is the same as the 'power kerosene' that used to be available in Oz, it seems. I've never before seen a 2-stroke engine that used it - quite a few four-strokes though.
This looks like those engines - maybe the previous owner?
http://www.vhgmc.co.uk/forums/topic/what-could-this-jap-engine-be-off/Interesting to see the Magister units fitted to an engine of that vintage, if the date is correct. As far as we've been able to work out, the Magister system came on the market here in 1962. The patent applications for it were in 1959.
One possibility is that these were produced as a bit of a 'last gasp' on JAP's part, to cash in old parts stocks. JAP went belly-up in 1963, apparently.
