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This should be the rotary hold timer, I say should as sometimes units were converted to another use on machine rebuilds.. There should be a wired switch that a red notched cam (wheel) operates as the timer turns, it's that switch that flashes the hold lamps.

unless it's been altered, the original voltage for all the small hold bulbs are 6.3vac, there is a fuse for that supply on the transformer unit in the bottom of the machine, the switch that controlled the bulbs to flash is found on the hold rotary timer, the red cam or red wheel in the centre operates a switch, If the fuse and 6.3v circuit is ok then it's possible that it's just a loose wire off the rotary switch or the switch itself has failed but, As the hold lights do not light up at all then I would say the circuit from the transformer is at fault.