If it's on and solid - This means the B1 is powered on, and currently connected to a Bluetooth enabled device.
If it's on and blinking - This means the B1 is powered on, but not currently connected to a device
If it's off (and plugged into power) - This means the B1 is powered off (standby) and not connected to a device. The B1 is however still visible to Bluetooth enabled devices in this state. So simply connect to the B1 using your device, and it will automatically wake up.