With my arcade power supply 5v line soldered to the pins indicated in the instructions.How are you powering the kit?
That's the exact instructions I've been using.In the 1st post of this thread, there is an EDIT by me with instructions about how to properly do a Bootloader UPDATE:
http://www.mediafire.com/file/bhh42dan8tbtr98/CPS2_Firmware_Update.pdf/file