IBM xSeries 150 User Reference Manual page 20

Information light
System error light
Ethernet speed light
Ethernet link status light
Ethernet transmit/receive activity light
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IBM® xSeries 150 : User's Reference
This amber LED lights when the information log contains information about
certain conditions in your server that might affect performance. For example,
the light will be on if your server has multiple power supplies and does not
have redundant power. An LED on the diagnostic panel on the system board
will also be on.
This amber LED lights when a system error occurs. An LED on the
diagnostic panel on the system board will also be on to further isolate the
error. Refer to the "Problem solving" section of the User's Reference on the IBM
xSeries Documentation CD for detailed information on using the diagnostic
panel (light path diagnostics).
This green LED lights when the Ethernet LAN speed is 100 Mbps.
This green LED lights when there is an active connection on the Ethernet
port.
This green LED lights when there is transmit or receive activity to or from the
server.