Gentlemen,
Thanks again for your ideas and input.
I have heard back from Pat McGuire at Wolcott and the riddle is solved.
As is turns out, when I had sent this amp in for a check up a couple of years ago he custom installed the LEDs as servo circuit "out of balance" indicators for my 6922 input tubes. There are two input tubes per channel. After instaling a couple of different input tubes the lamp in now off and the the amp (and the Quad ESL 989s) are 100%. Turns out he personally built this amp and it is one of five.
Wolcott kept three. Henery Wolcott (rest his soul) used two for reference amps. Pat uses one. A well known audio reviewer bought one after reviewing it, I have number five. The Wolcott P-120S is rated at 125 watts per side powered by 8 EL-34s. Self biasing with unlimited dampening. Power consumtion is only 100 watts, so low heat emitting (for a tube amp) and all in one tidy 70lb stereo amp.
Wolcott and Pat McGuire are still one hell of a electronics company.
Hard to find a Wolcott on the used market. All I can say is I'll never part with mine.