For future reference I was just browsing a technical PDF file for the Zed. The secton on crusie control states
When the ECM detects any of the followng conditions, the ECM will cancel the cruise operation and inform the driver by blinking the indicator lamp.
-Engine cooleant temperature is slightly higher than the normal operating temperature, CRUISE lamp may blink slowly. When the engine coolant termperature decreases to the normal operating temperature, CRUISE lamp will stop blinking and the cruise operation will be able to work by pressing SET/COAST switch or RESUME/ACCELERATE switch.
-Malfunction for some self-diagnosis regarding ASCD control:SET lamp will blink quickly
Something else to add to the list