The small board with 7 LEDs is to check and adjust the motor timing low voltage control section. The 6 steps for switching are marked on the rotor, and as the rotor is moved a pair of lights will illuminate for each step. 1 orange for High Side and 1 red for Low Side. The green is to show the PWM voltage/current level.
This board has its own plug and can be removed or remain in place when the motor is running. It plugs into the Direct Drive Decoder PCB.