Is that a typo on the MTH number? From what I can tell the 1 over 1 is really 30-11025:
Assuming we're talking about a bi-color LED, the timing circuit should light both the Red and Green LED (making Yellow) for 10 sec when power is initially applied to the Green wire. After 10 sec, the circuit should then light just the Green LED. Applying power to the Red wire should light just the Red LED.
In your case it appears applying power to the Green wire immediately lights only Green, it appears you have a defective timing circuit. As it sounds like you are familiar with bridge rectifiers and such, you might consider some DIY troubleshooting. The MTH timing circuit is fairly simple using the venerable 555 timer IC chip. Schematics have been posted on OGR for the stock and customized versions.