Okay electrical wizards, here we go with this month's Diagnosis Derby.
71 bus (mine, actually). Turn indicator assembly is a bit loose on the steering column, so it is possible to rotate it fore and aft a bit.If it is not exactly in the right location (9 o' clock) a problem can occur. This happens after using the turn indicator and then switching it back to the middle position. Instead of just shutting off, like a good turn indicator should, it goes into "fast blinker" mode. Fiddling with the turn indicator assembly and rotating it back to 9 o' clock or thereabouts fixes the problem.