If the CPS was a problem with no signal the engine would be revving over 2000 RPM i have already said that. Modulation is about point of injection adjustment for various injection pump internal pressures. Static is set with engine locked at TDC number one firing. And is set slightly advanced to aid starting. 0.95mm lift new chains 0.90mm lift old chains. When the engine is switched off, when internal fuel pressure in the injection pump bleeds away timing always returns to static setting. At idle warm engine (minimum internal pressure) modulation should be 45% to 55%. Below 50% static is advanced above 50% static is retarded. The ECM receives a signal from number four injector every two revolutions. This tells the ECM the actual point of injection. The ECM then modulates the pressure control to either restrict or increase internal fuel pressure acting on the timing device piston against spring pressure. This causes the timing device cam to rotate changing the point of injection to 1 or 2 degrees BTDC. As internal injection pump pressure increases due to engine RPM to a max of 4.5 bar, more modulation is required to allow more fuel flow away from the timing device piston to adjust point of injection within specified tolerance throughout the rev range. That is why modulation should never be checked at other than idle warm engine.