Derringer Alarm Malfunction

I bought a car with a Derringer alarm (installed in 1984) –

There are two LED lights on the steering column on the opposite sides of each other at the ignition point.  These lights continuously flash; and I think are supposed to stop flashing and burn solid or go out before the car can be started. Instead of burning solid or shutting off they continue to flash when I push the button located in the glove box.  I no longer hear the click that sounded when the button was pushed; leading me to believe a relay may have quit. The button in the glove-box has a single purple wire coming from the rear of the box to the button then grounds out. At this point I’d like to disable or remove the alarm system, but unable to find any information specific to it.

Is there a way to reset the system using the button in the glove box? Or are there any specific procedures to using this button?  Also, the car battery had been dead for about three months before attempts to start it.

Is anyone able point me to a solution for this situation?