Richard,
I have did both checks and seems like your guess is right...
1. At pre-crank key position the water level light blinks for a second and then switches off.
Here you will see he result of check:
http://www.youtube.com/watch?v=fFQw5h9UQGQ
2. As to the FAV jumper - regardless of its position there is constant 13.9V output on the wire.
Regards,
Alexey