Hi Chief, Don't give up, we just have to find out where the key line signal is disappearing. Open the Signalink and check the wires as they cross the socket in the back. Somewhere there should be a diagram of which line is the key line. There are two things to be done,
Check the line in the Signalink for some DC voltage to ground, probably 5-12 volts DC. I am guessing a bit, but this will come from the radio's keying circuit. If it is there, key the transmit from the computer, the voltage should go low, almost zero. Tell the computer to go to receive and it should come back up. If no voltage is found or it doesn't change, unplug the cable from the radio. The voltage, if it was there should go away. (it comes from the rig.)
Now, set your Ohm meter to 200 ohms or so, a low ohms scale, and while reading the key line to ground, high ohms reading, tell the computer to key the radio. The ohms reading should go low, this is what keys the transmitter.
If the red LED on the Signalink comes and goes according to the commands from the computer it is functioning fine. The problem is the key circuit in the Signalink, the cable, the key circuit in the radio, or a software menu setting in the radio. Most likely, it is the cable or the Signalink itself. hth
Let us know what you find.
73,
Rob
ETA: paragraphs