Tri-Color LED
My PSR500 has been having problems maintaining the color of the alert light on certain channels.
I suspect it is not "channel related" but is "color related". In other words, perhaps the green works fine but there are problems with the others.
You can go to the GLOB menu and scroll down to find the LED settings. Color 0 is typically Black with all colors off. Pick one of the settings and adjust it and watch to see what it does. I went thru the ranges of each primary color and found that some values simply don't produce an output or are no different than the prior/next value.
00 means the color is fully off, and FF means it is fully on. I found that my Blue LED would not come on until the setting was around 30. So any value from 00 to 2F produced no Blue output. And some settings seem to be on the edge and would produce a flicker result.
Note that the factory defaults use combinations where each LED color is set to either 00 or FF. It's nice they gave us control, but what I've seen so far is that even though there are 256 levels, you're lucky to get more than a couple of usable settings.
Yes LEDs do last forever, but they can be destroyed. I wouldn't worry about "using them up" as they don't compare to (incadescent) lights. When they fail it is a failure, not because they are "worn out".