Hi Brandon
do you have a link to the manual for the 1205 BOB ?
do you have a multi meter ?
I only found a photo of the BOB
I assuming the two 16 pin IC's will be 74HC14 inverters
with no power to the board and a logic 1 (+5V) on any of the printer port outputs
the BOB will work to some degree
current will flow via the IC's input protection diodes to the positive supply pin 16
and power the other IC and the LED indicator at a reduced voltage
note - if all printer port pins are at a logic 0 (0V) the board will stop working
check you have power to both power supply inputs for the pc interface and output side of the BOB
a photo or diagram showing how you have connected the board will help
John
PS
high resolution photos of both sides of the breakout board will make it possible to trace the circuit
and then work out how to test it` in more detail