The Holley Load-O-Matic uses venturi vacuum to advance. The vacuum can pulls against springs inside the distributor. European manufacture cars may have utilized different ignition systems components but I don't know much about that if so.
You can check the Load-O-Matic can by pulling vacuum on it with a hand type vacuum pump. Some Holley carbs have some vacuum at idle while the throttle plate is near closed with dual port vacuum. As the throttle is opened, the venturi port starts to draw vacuum. I'm not sure if the 94 type carb is set up this way but the Mercury 885 type is.