The location, the plugs going to it, and the wire colors all indicate that it is some version of the Ford Duraspark box. I have never seen one quite like that, but I'm not sure what else it would be.
81 F150 Flareside, Edelbrock Pro Flow4 FI, hydraulic roller 351W, E4OD, 4x4, BW1356
92 F150 RCLB 351W E40D BW1356 mostly stock