There seems to be no explicit answer to this on the Emlid website/documentation but this thread could be insightful: https://community.dojofordrones.com/u/npadmaprabhu
They make reference to this page in the Ardupilot website: https://ardupilot.org/copter/docs/common-leds-pixhawk.html
I think its fair to assume that the LEDs will behave similarly between Navio2 and Pixhawk since the LED color is firmware dependent and not hardware dependent. In my opinion, thats the most logical explanation for why Emlid would not give such details, but Ardupilot would.
From experience, I can confirm Single Flashing yellow: Radio failsafe activated. This means that if your radio failsafe is turned on, you have not yet paired the radio controller with the drone and the drone is not armable.
What I suggest is for you to map out the LED colors by trying the different modes. Note the color when your RC is paired, when the drone is armed, when it is disarming, when theres a GPS failsafe or any other error on the ground station and eventually you’ll understand what your Navio is trying to tell you