You might try changing the timing while it's running, and see where the vacuum gauge starts bouncing...
But I can't imagine why timing would make the vacuum bounce...valve timing yes, ignition not really, unless there was some pre-ignition before an intake valve closed....but then it would knock....I think....
I had another thought....you might try shorting each spark plug in turn while the needle is bouncing and see if it stops when you short out one particular cylinder....you may not learn any thing but who knows.....