Although this information is documented in the respective Installation Guides, here is a summary of what the LED behavior indicates:
On all model AnywhereUSBs, the System Status LED should normally blink green. Particular to the (legacy) AnywhereUSB/5, If the System Status LED is solid orange, it may need to be factory reset.
The Port LEDs should be solid green when a host PC is connected to the AnywhereUSB regardless if USB devices are attached. In other words, the Port LEDs provide information about connection status of the AnywhereUSB itself, not attached USB devices. For the (legacy) AnywhereUSB/5, AnywhereUSB/2, and AnywhereUSB TS-44, all of the Port LEDs should turn on at the same time once the unit is connected. For the AnywhereUSB/14, which supports Multi-Host Connections, only USB ports that are connected will be lit.
The System Status LED should blink green when the unit is idle and the driver is loaded. This LED should blink orange rapidly when there is data passing through it, i.e. when it's being used.
If the System Status LED blinks red, or is not lit, this suggests the driver not installed.
It is normal to see quick red flashes on this LED when connecting a USB cable to the Edgeport.
The System Status LED should blink green, whether or not a host PC is connected to it.
The Port LEDs should always be solid green, regardless if USB devices are attached.