Not sure what's up with those things Justin. Mine worked when I bought the truck but stayed lit after I did my first brake job and bled the brakes. Still running drums.
And they work on stock '76 and '77 Broncos with discs (until they don't work anymore) so it's not just the disc vs drum issue. Of course, those also had an actual proportioning valve too, so maybe there was something in the valve that takes care of the shuttle cock's positioning? Don't know.
For many years my buddy's '77 was the only EB I knew of that had a perfectly functioning light, even 30 years after the fact.
Just saw one a few weeks ago in an older one (with disc conversion) that did work. Sorry I don't remember what year, or whether or not the truck still had the H-block or had been converted to a prop valve.
The one in my new-to-me '68 does not function at all, so maybe the bulb was left out. It's using the old H-block and a manually adjustable prop valve (just the way I would have done it if I'd built it). So I guess this is the experiment. Can a converted system still have a working warning light. I'll make sure the bulb is good, fiddle with the valve adjustment, check out anything else I can find and let you know.
Maybe like you say the system has to be just right (close to the original balance) for it to even function.
It's just that so many of them fail to work even with the stock setup that it's hard to narrow down all the reasons. Your experience with the working one stopping though, is a good starting point.
Just another point of curiosity with these things.
Ultimately though I'd like to just convert it to a working Parking Brake Warning light instead. If I ever get 'roundtoit, as my dad used to say...
Paul