You said that when you press the on/off switch there is no sound, does that mean, no sound either in bypass and effected mode ?
the light does not pulsate but is it on? does the LED rate indicator pulsate ? The light in side the enclosure is on but very weak, but does not pulsate. The LED is also on and does not pulsate,
Your voltages look ok as you mentioned so it could be the wiring of the rate pot.
Does adjusting any of the pots and trimmers change anything ? The trim pots only make the light go on, but again very week. The rate haves no effect. Now, I do get a very very weak sound with no effect and a clean sound when bypassing the pedal (switch) on/off