Hmmm. On my 05 lowrider the codes are displayed on the odometer. You cycle through the code categories and if any codes have been recorded, it displays them as text codes - no flashing lights. If there are no codes, it displays 'none'. It's been a while since I've done it, but I never had to count flashes.

 

Here's the info you need. Since you say the security light stays on, that means you have an error code. The below link shows the procedure to check the codes and explains the codes.

http://www.hdtalking.com/diagnostics...ctivation.html

 

Sounds like the load equalizer burned out. Unplug it and see if everything works.