This article is from the 3b1 computers FAQ, by John B. Bunch with numerous contributions by others.
This is from John Milton's HwNotes series #1.
0 RED: This is the "user LED". It can be turned on and off with the syslocal(2) call. It is not used by any existing applications. 1 GREEN: This is the one most people get wrong. This LED toggles every time there is a process context change, and is cleared on the whole second. 2 YELLOW: This is the idle LED. When it is on, there are no processes in the ready to run state. 3 RED: Heart beat LED. This is toggled on the whole second.
This and other interesting information is available in the HwNote series 1-15 that are archived on OSU.
 
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