Ron, yes one diode could, but I think you may
have a cap that could be bad. If you change out the diode, you'r best bet would be to change both, 'cause the good one could be very weak. The voltage listed is 75 volts at 50mA, so you got to be carefull. What you can do is shield your face and eyes when testing, (yes, they can go POP and shapnel flying. But I doubt it at the diffentences in v). Speaking of eyes, believe it or not, you should use eye protection when working of these things. Use a pair of dikes and the litter bitty end you cut off could hit your eye. No big deal, but it does hurt. Also, capacitors, resistors, ICs, etc. can and do explode when too high a voltage or direct shorts occure.
But looking further into that circuit, I would see how that R/T relay acts. (also C1 naturally). Good luck and hope you get it working.