Yep. There is no generic "power on" light on a Megasquirt, which I know has confused a few people before who were expecting one of the lights to come on.
Glad to see you on here Matt .
Yes i talked to Jason and i had his LED set to output4 and he couldnt see the IRQ trigger but it ended up being the current resistor inline with the tach signal wire was to small he changed it from a 470 to a 2k and it fixed it right up.