Ok so upon really getting into it I have found that the Black/Red wire side of the indicator light is 12volts the Blue wire side is 12volts and when grounded the light comes on. Following the blue wire it turns into the Black wire at the connector at the Voltage regulator. There is 0 Ohms of resistance between the connector at the regulator and the light socket leading me to believe there is something wrong internally in the regulator not grounding the circuit. The bike is charging at 14.7ish volts. I guess I should buy a new regulator or can live without the telltale light although it would be nice to have.
Am I correct in thinking the regulator has failed?
Thanks