No I have not attempted it but it's really straight forward, all the info is in the video. Those pickups, flywheel and impeller are all found on various minibike/doodlebug websites. Just use the parts like you would on any 79cc engine and they will make the power you'll need for the lights when hooked up.
If you are still confused then specificy what is hard to understand and I'll try to clarify for you. It's really a bunch of parts that a generator motor would not need, they are parts designed to create a small amount of electricity to power lights or charge a battery. A really generator would use the output shaft of the engine to drive the electric generator, the way shown in the video is how you get spare electricity from the engine without using its drive shaft as the source of the power.
http://www.gopowersports.com/charging-coil-assembly-mini-mid/ an example of the coil system you'd need.
The flywheel and other components will need to be matched up to your engine. I have no idea if a 150cc flywheel will work on a 79cc engine so that would be research you'll have to do to ensure proper fitting.