Though not a 540, I have been running an ElectroAir (“Jeff Rose”) electronic ignition on one side of a 4 cylinder Lycoming for about 20 years.
I have used REM 37BY’s, AC Delco 486’s (18mm thread, so no adapter needed), and currently NGK BR8EIX’s.
Early on I found that if one were not careful, you could get sparks jumping to the case as opposed to the plugs when using the “self-made” harness until I took the time to get it just right.
I used “high quality” (don’t remember any particular brand) automotive harness after switching to the automotive plugs. I have not had any problems with the setup.
The plane was built with the ElectroAir and one mag. It later got a PMag to replace the mag.
I assume that your timing an everything else is in good order.
Hope this helps.
p.s. The reference to the gap made in an earlier post is that your typical aviation plugs should be gapped to .035” as opposed to a more typical gap that is around .020”.