The blob that you are seeing is setting wax, used to prevent movement of certain critical components and coils once the tuner (and that IS the tuner board) is properly aligned. You should not do anything to that board, don't even touch or handle it if possible. Those soft copper coils and even the position of some of the caps and transistors are critical. If you accidently move the components or distort the coils, you could cause the tuner alignment to drift. It is easy to accidentally touch and move or distort parts when handling that board.
If the power LED is not illuminating, then I suggest you clean the power switch which is a leaf type switch. Clean it carefully because they are easy to break and if you break it........... well let's just say you'll be wishing you didn't mess with it. If the switch is operating properly, then you should test the power LED to see if it is toast. You can generally do this with the diode function of your digital multimeter. If it illuminates while testing it with your meter, then the next area of concern is the voltage regulator that supplies power to it. There is a voltage regulator that powers not only the power LED but also the dial lamp and the MMS. If your tuner light will not light, the power indicator is out, and the MMS does not function, it's a good indicator that this regulator is out. This X505 regulator is hard to access and you might not be able to service it without taking the main board out, which is a big deal.
But since you are unable to address the power supply either, I'm afraid this service will definitely be beyond your comfort level.