Its possible that light on your old one is not working. Also, if I remember correctly, ST was an option on that transport. The light may come on when you use it.
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That's the main power LED. Lights when main power switch in back is on. Theta recommended leaving it on, while the Standby switch in front powers down the display and other circuits. They also recommend turning the main power switch off when going on extended time away. They say this is best for sound quality.