We are a rental company and rent this type of equipment so I do not have any direct experience of valve testing however the following would be possible using this type of instrument. If you knew the limits for the leakage testing and the appropriate signal for the open close switching, you could pressurise one side of the valve using a hand pump and monitor the pressure for leakage. Then you could apply the open and close signals to open and close the valve. You might provide pressure on one side of the valve and open the valve and then track the loss in pressure rate to determine the valve reaction time. A couple of suggestions.