Hey brother, "obvious" or not, somethings escape us all once in a while. Me? More often than not. Skip this whole thing and read the last line if you want to see what I hope the fix is. Otherwise, read the whole thing for an exact understanding of your flasher unit. Cheers!
How does the central ground look underneath the gas tank that holds into the frame? It should have five or six brown wires coming together with one little bolt going into the frame. Does the turn signal indicator on the dash light up? I can't imagine it would make too much of a difference, but the turn signal indicator specifically calls for a 12 V 4 W bulb T8/4 type. Are the turn signal lights the correct ones? Do you have a bulb monitor indicator light on your dash? Is that lit or staying off? I don't believe those wires for the blinker indicators connect to the bulb monitor indicator so that should not be an issue, but figured I would ask just in case.
Going from the lights into the flasher unit, the left side flasher wire is blue/red and the right side flasher wire is blue black. If the the lights are lighting, then those two, to include the grounds for the lights should be fine. Make sense? The two right combined switch to the flasher unit wires are blue/yellow and brown/white: one for the right signal and one for the cancel button I guess. The left combined switch to the flasher unit wire is blue/brown. Once again, these must be good, right? The signal is being received after all. The blue/white and the yellow/violet(?) wires going into the flasher unit are both directly from the hazard warning flasher switch. So, that's seven wires of eleven, right? I think so anyway.
Remember when I said the lights themselves do not connect to the bulb monitoring indicator light? The flasher unit does; however, appear to ground into the bulb monitoring unit. So, the brown wire coming from the flasher unit goes directly to and grounds into the bulb monitoring unit FYI. So now, we know the ground for the lights are good, but I wonder how that ground is for the flasher unit. Thoughts?
Does your bike have auto canceling turn signals? The reason I ask is because the blue/green wire that comes out of the flasher unit wires directly to the speedometer. I can't imagine that would have anything to do with your indicators not flashing.
The green/brown wire goes to the temperature switch box. Don't ask me why, anybody care to guess out there?
And lastly, there is the red/white wire. I am hoping you write me back and tell me this is what it was. That wire, goes from the flasher unit directly to the fuse box.
On my bike, the red/white wire goes into the slot 3rd down from the top.