I have a new decoder that may solve the POWER/FAILSAFE lights problem.
It is part of my 459 Mhz radio control ststem.
It has two LEDs, one red and one green.

Flashing Red LED means the power is on but no valid radio control signal is being received, steady red means a good signal is being received.

Flashing green means failsafes are not set, steady green means they are set.

This PIC decoder can be programmed (by me) for Futaba PCM signals or standard PPM signals, up to 12 channels.
The PPM version has built in failsafes for all channels.
The PCM version works with the Futaba 6 and 9 channel PCM transmitters.
We are working on a JR PCM compatible version.
It is part of my latest 459 Mhz radio control receiver.
email rp@bigc.moycom.co.uk