Hiya-
I couldn't find any information on your particular dyno on the internet.
I'm assuming that this is a cost sensitve job. Besides doing the torque conversion, one also has to know the RPM to do the horsepower calculations. So, I would suggest a digital tach of some sort.
In lieu of a load cell, there might be a "digital scale" with a computer interface on it that you can find at a reasonable cost. Maybe ebay or some such?
As an alternative, a spring with a string wrapped around the shaft of a rotary interruptor (like the ones on a computer mouse) with or without suitable gear ratios (or belt/pulley ratios). One end of the string is attached to the moving part of the spring. The other side to a winder or weight that will retract the string and keep tension on the string (not much). Then as the spring is pulled, the string is pulled along with it, rotating the opto interruptor, causing a digital "pulse" to be sent to the computer. After "zeroing" the device, the force applied to the spring can be correlated to the number of pulses sent by the interruptor. You should include a pair of phased interruptors, so one can determine not only the magnitude of the change of force but also the direction.
This is a "low cost" implementation that will take some experimentation on your part of course. This might be adequate for your needs.
For the tach, another photointerruptor might just do the trick. One can program the computer to count the number of revolutions per fixed period of time which, of course, leads to RPM. Alternatively, a small permanent magnet on the shaft, with a coil of wire and suitable amplification could be used in lieu of the photointerruptor.
By having the program deduce the force on the "force measuring device" and determining the RPM, one can easily have the program determine the horsepower.
For a LOT of programming, one could use one of the cheap digital scales with LED displays and demultiplex the segments to get a reading. However, this is quite a complex task and might be fraught with peril. I know of no such device that allows this, one would have to be developed.
I hope that this helps.
Cheers,
Rich S.