The green light indicators show the battery status. They will light up when you press the round button once and when you charge your Power5 / Power10 via the grid.
The red light indicators shows if your Power5 / Power 10 is charging from the sun (plugged to the Solar Panel).
If a blue LED turns on the top right of the light circle, it means your WakaWaka is too warm or the battery is over discharged.