Set trims to zero , if the red led is flashing give it a few clicks forward trim , if the green led is flashing give it a few clicks of backward trim .

I have tried to recalobrate it but like i said it dosnt beep the lights just flash in the correct manor. I have also had it hooked up to castle link and rst everything back to factory settings but still nothing.
When i get tothe track today i will hook the motor up to another racers esc and see if that is the problem and if that works i will hook up my esc to his motor and see if that is the problem. He also has a bit of experiance with this system so may be able to help out. I have only had 3 runs with this unit so im hoping it can be saved.

after thinking, the motor is what makes the beeps too. no beeps wont run...if it walks like a duck...motor.

Three years have passed since this problem. What did you find? Mine is doing the same thing and I'd love to know.

Maybe/probably a bad on/off switch.....If that is the case, just clip the wires right below the switch, twist the ends (wire)together, black tape em and you'll be good to go.
Happens often with mm esc's

edit: did it to one of mine yesterday and everything is back to normal.
....no more on/off switch....Just plug in the battery and go.

Mine is a MM2 with the newer switch and is only about 2 weeks old. Mine is NOT a switch problem.

Disappointed that my ESC took a dump after only 2-3 weeks of having it and very few battery packs through it. More than happy with the customer support from Castle. They are sending a new one out even before they got my broken one in for repair. Should have it tomorrow.