Inasmuch as the turn signals function fine, I have ruled out the flasher itself. just concerned with the emergency flasher rocker switch on the panel right now. If I have to go further, I will.
3/31 Update. Attempted to remove the rocker switch on the panel today in order to test it or spray it with electronic cleaner. Didn't get very far, as there is no slack in the wires attached to it. Did I mention there are but 2 wires coming from under the tank to the switch? As per the wiring diagram in the Clymer manual, there are supposed to be 3 wires. Two are routed to the flasher module under the tank and the third is a common ground. Until 2008 I never owned a motorcycle with emergency flashers and even though this '95 BMW has a switch for them, I doubt I'll ever go digging under the tank for one stupid wire. For all I know, the switch went south and someone disconnected the blue/white wire, which is the missing one. There is very little room under the panel and it is difficult to see where the 2 existing wires go, other than into a protective sleeve. I don't know the entire history of this machine but one previous owner did some major preventative maintenance at 22K miles. Still under 30K at present.