Find the two leads that come off the dyno - get a set of alligator clips and attach them to those leads and place those clip on your multimeter SET TO AC.
Start engine and rev up to 3/4 WOT - and tell us what your reading is in AC - if you got something like 25-30 volts AC - the dyno is good.
If that passes the test - reconnect leads and now place multimeter on DC and place the + and - on the battery - should have 12.5 ish volts DC - start engine, and rev up again - should rise to close to 14 volts DC.
IF the DC volts do NOT increase - chances are you have a bad rectifier.
AS for lights - IF you can get a 14 volt DC - any LED lights will work fine, unless you plan on putting many lights on the tractor. Most LED will draw an AMP or 2 depending on the amount of bulbs in the LED housing.
Report back your findings