No. Please note that this board is designed to be used only with a LiPoly attached, it won't work without a battery.
This is normal, the charger chip dimly lights both LEDs if it cannot detect a battery, this lets you know that it is waiting for a battery to be plugged in!
We don't recommend running the PB500C without a battery, its not going to work very well since there's no 'power path' from USB in to USB!
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