No, either your cam timing is off or the crank pulley has separated, giving a false tdc mark. Check true TDC for #1 cylinder with a long screw driver and rotate the crank so it at the highest point.
If you look at 3:00 o'clock on CAS disc, the #1 cylinder big slot is visible. It's not supposed to be visible if you are truely #1 TDC. At true #1 TDC, the big slot would be covered by the CAS sensor. What your pic shows is the CAS is reading #2 cylinder.
Megasquirt Support Forum (MSEXTRA) ? Compatible Crank Angle Sensors (CAS, CKP) (View topic)