beans
Got arth-a-ritis
It could well be a matter of adjustment. On the PR99 there are two trimmers that control when these LEDs light up. "Unfortunatelly" my B77 came in pristine condition and I never had a chance or reason to check calibration or the circuits.
I suspect it should have similar controls though. Do you have a service manual? I just had a look in that and in section 6.4.6 it states that the overload indicators are "calibrated" by the values of R37 & R34 in the monitor amplifier (1.177.260). In newer versions (I suspect MkII) these resistors are replaced by trimpots R30 & R38.
These trimpots, if available, should be accesible from the bottom of the machine, however, unlike the PR99 where they are readily available through the bottom, in the case of the B77 you need to remove the unit from it's housing and lay it on it's back. Then you have access to the trimmers at the bottom.
Thanks again, man! I got the LEDs to fire by reversing the leads, but they fire unevenly, so I will try the adjustment... after I get the service manual. Would cold solder joints affect them? That is definitely the case here.
Also, when fast winding I hear a loud buzz, probably from the supply-side guide roller. What would be the right lube to use on that, and the pinch roller shaft?