[BB_TX]

As noted above, the LED blown fuse indicator will only illuminate if the fuse is blown and there is some type load on that circuit. The LED is connected in parallel to the fuse. As long as the fuse is good, all the current flow is thru the fuse and none (to speak of) flows thru the LED. The fuse must be blown or removed and the LED must have a path to ground for the LED to come on. Pulling a fuse would have the same effect as a blown fuse.
And easy way to visualize it is this. If the circuit is to a light fixture, and the fuse is blown, and if the light bulb is good, and if the switch is on, the electricity will flow thru the LED, thru the wiring, thru the light bulb filament, to ground. The resistance of the LED is very large and the current flow will be very small, not enough to turn on the light.

Now with the same configuration as above, except the switch is now turned off, the current has no path to ground as the circuit is broken at the switch, and the LED will not come on.

Turn the switch on and the LED will come on. Turn the switch off and the LED will turn off.

That is why you can't simply look at LEDs to determine if you have a fuse blown or not.