5V won't be enough for the regulators to work. I think you need at least 2V above so 7V should get the 5V regulator started and that will then supply enough for the 3.3V regulator to work.
I just finished my QDX ver 3a. I wired for 9 V but I am starting with only 5 v. I do not see the yellow pulse but I do have a flashing red LED on the bottom of the board. I only have one good eye so solder errors are expected. Suggestions?