Cruise "ON" indicator blinks when the cruise main switch is pushed to "ON"
If the cruise actuator relay is faulty, the system will enter the fail safe mode and the cruise "ON" indicator will blink when the cruise main switch is pushed to "ON" with the ignition switch turned to "ON" and engine stop switch to run.
This turned out to be a loose connection at the cruise control box. Was fixed (under warranty) at 1000 mile checkup. The cruise was still working fine last time I used it. It's pretty amazing these bikes know there is a glitch before the rider does, allowing them to be fixed before they become a problem.