Another thing to check is the bulbs on that side. If one side works and the other side doesn't, then the flasher unit is good. If a bulb is bad, it doesn't put the correct load on the flasher unit, and it won't work.
Some of the newer bulbs have a different filament in them (to save power, perhaps). Make sure the bulbs are the correct ones for your bike.
Hope this helps.
Luke M
Used to have a 1979 CB750L, sold it as a parts bike, now riding a slightly modified 1984 VT700C. Network/Field Engineer. Central OH, USA, Earth, Sol System, Milky Way Galaxy, Universe.