I run an edge in my 1/12 scale and had the same problems/led codes. The major difference is that I'm running 1s lipo with a voltage booster for the receiver.
If I turn on the switch from the booster first, then the ESC switch, I get led's indicating that the low-voltage protection is set to LIPO, then everything works....kindof. I was having trouble with it shutting down with the same error led's you're getting.
Because I'm only running 1s, I concentrated on the voltage cut-off led code. I noticed that if I turned on the ESC switch first, I got an led code for no voltage cut-off. I've been running this way for a couple weeks with no issues.
Not sure if it will help, but I noticed you were getting the same led codes I did, and there's nothing in any of the paperwork about that sequence. My best guess - It's a lipo cutoff issue and the led code (although not mentioned by Novak) is to let you know the lipo voltage is below safe levels.
I would try (with fully charged batteries and be SURE not to over drain them) turning the LIPO cutoff "off" and see how that works....