This is the water damage indicator, unfortunately, this is a very old Osmolator so I cannot repair it as the circuitry is very different from what is made today and what I have parts for. This appears to be a unit made between 2009-2011 and besides repairability with this age often capacitors on the board are failing and that alone could be a culprit. You could try a 3 step cleaning, remove the board from the housing, first dip it in distilled water, ideally that has been warmed to about 120F, this will help it evaporate faster, then clean it with Deoxit D5, agitate the cleaner with a brush. Then spray it down with 99% isopropy alcohol. Place it in front of a fan so air flow around the board and leave it for several hours, keep in mind the speaker will hold water, so if possible cover the opening in the speaker with tape and make sure it is empty of water/fluid. Any corroded section have to be completely cleaned and retouched with fresh solder. Keep in mind that the Osmolator 3 launches in a month, so you might wait to replace it, this is a fairly old unit and it is just not practical to repair outside of trying some basic cleaning.