When the USRP is plugged in, the LED to the right of the USB controller blinks at a fast rate of about 3 times per second. Once a USRP application starts, that rate slows down to about 1 time per second. What controls the blinking of the LEDs? Is it the blink_leds.c function in the usrp/firmware/src/common folder?
The only reason I am asking that is to determine wheather the LED is controlled by the PC or the FPGA.