A few things can cause that problem.

Reset the ESC. The manual is downloadable from http://www.teamnovak.com

The TC2 has a pluggable lead from the ESC to the receiver.

If the lead has a short you might see that problem. Is the ESC plugged in properly to your receiver? Check for proper polarity when plugging it in to the receiver and check the end plugged into the ESC.

If all of that is fine before you can point to the ESc being the problem you need to make sure the receiver is working properly. Either try a different ESC in your current receiver or swap your receiver for another.