I am not the sharpest knife in the draw so I changed some of the wording of your post to clairify the problem for me , I hope I got the idea of your of the post correct.
I was plugging my tester in to check polarity on an outlet (that should have read) 120vac phase (hot/phase conductor to neutral and ground?). All the lights light up so I thought it meant that between hot and neutral I had 220 (240? 220? or 208?). But the strange thing is the hot (should be?) 120vac (to neutral and ground?). Between the hot to ground I have 240vac (208/220/240?).
If I touch a pipe I did not get a shock. How is this possible?
Now the other weird thing is if I shut off the breaker, the tester lights up with 1 light, which means hot (is energized between, EGC equipment grounding conductor?) ground. Is it possible the transformer that is feeding this panel is bad? I have? need? want? primary voltage of 480vac without a good ground.
1. What is the system voltage 277/480 VAC 3 ? wye, 120/208 VAC 3?wye, 120/240 VAC 3? 4 wire delta, 120/240 VAC single phase, or other distribution system type?
2. Between phase (hot) to neutral you read?
3. Between phase to ground (EGC) you read?
4. Between neutral to ground (EGC) you read?
5. What are the phase to phase, phase to neutral, phase to ground and neutral to ground voltages at the panel?
6. What are the phase to neutral, phase to ground and neutral to ground voltages at the outlet with the CB (circuit beaker) on and with the CB off?.
7. You touched a pipe (what type) and what else did you touch?
8. Did you check to see if te CB is defective?