Hazard flashers and front wheel sensor issues

I have a 1981 KZ550 LTD with 18k miles, all stock, no mods.  I have two electrical issues (questions?) that perhaps someone could answer.

1.  Hazard flashers:  the left handlebar switch for the auto/manual turn signal shutoff also has an upper position for what appears to be hazard lights.  I took the switch apart when I was diagnosing the auto-cancel circuit of the turn signals and found the yellow wire unsoldered.  Fixing that, I proceeded to do the auto-cancel test which I will address in part 2.  I have the wiring diagram and it does not indicate my bike has an emergency flasher relay separate from the turn signal relay.  Does my bike actually have an emergency flasher system?  If so, where do I start looking for the answer for why it does not operate?

2.  Doing the auto-cancel turn signal diagnosis as prescribed by the manual, I've found the front wheel sensor does not send a signal to the relay on the right side of the frame.  I've tested it at the headlight junction and nothing there either.  I took the speedometer apart and see where the light green and red wires go into the gauge, but there are no serviceable parts I can find.  I suppose one might take the speedo apart and poke around but from what I've read, that doesn't seem like a way to fix it, unless perhaps you build a small circuit board.  What, if anything, can I do to fix (or attempt) the wheel sensor to get the auto-cancel function up and running?

Can you post the wiring diagram specific to your bike (model year, market etc)

Looking at the wiring diagram your bike doesn't have "hazard warning light function"
Ref the distance sensor - do you have pics of the back of the speedo with the cover off, It looks like there must be a "hall sensor" type set up driven by the speedo cable, I assume the speedo works ???

This is the inside of the speedo.  The light green and red wires provide the signal for the auto cancel circuit. 

Assuming all the wiring checks up to the speedo head check out according to the FSM  (is there a resistance test in the manual for the pick up in the speedo head) and the speedo is working mechanically then you are down to either venturing inside the speedo head or looking for a replacement