Failing Voltage Regulator?

[f-x-d-w-g]

I've had a Kuryakyn LED fuel/volt gage on my bike for about 4 years.  I also use a full Gerbing heated suit in the winter.  In the past, the volt meter has shown two green LEDs indicating good charging system voltage and, at idle, it would sometimes drop to 1 green LED.

Lately, when I turn on the suit, the LED guage immediately drops to 1 green LED regardless of speed/RPM.  Sometimes turning down the suit will bring the indication back up to 2 green but not always.

I'm just wondering if the stator or voltage regulator can degrade slowly  or if they tend to go out at once (live or dead).

The bike is an 04 FXDWGI.  Maybe a crimp or solder joint has come loose.  I suppose I can hook up a DVM to the battery and take measurements in the garage but the sun is shining today and it's warmed up to 35 degrees...  Think I'll take a ride.