I haven't used one of the two piece sprockets (like what you have - the two pieces are the sprocket part and the hub it bolts to), but my understanding is that w/ the 2-piece sprocket you don't use a dial indicator. You place the crank at TDC, loosen the bolts that attach the sprocket to the hub, install the pin in the sprocket, tighten the bolts, remove the pin, done.
I found a great write up, props to Vince.
Vincent Waldon:
If your pump mounting holes aren't elongated then you probably have the 2-piece IP sprocket with 1 central bolt and three smaller ones around the outside?
If not... hmmmmm.... somethings wrong... you gotta have one or the other.
If so, your pump is the later version of the AAZ that is pre-timed... no dial indicator required. You'll see a slot in the top of the pulley where a 6-7mm drill bit will go into a hole in the pump body to set the correct timing.
If you look closely at the big nut in the centre of the pump sprocket you should see the classic yellow paint indicating a calibration adjustment.

YUP mine is marked with yellow.!!!!
Basically you:
- get everything else locked at TDC
- loosen the small bolts around the outside of the IP sprocket
- gently rotate the big bolt in the centre until the locking drill bit goes into the hole
- tighten down the 3 smaller bolts
Done like dinner!
Guess its just that easy....
********One more question about the flywheel being at proper TDC. after spinning the flywheel a few times I noticed there are 2 notches (rectangular) a few degrees apart and between the notches there is a slit. There are no arrows or zero's or anything else that would tell me that is TDC other than the 3 marks mentioned. Which mark to I use??
Thank you