Bret:
The indicators are the screw looking circle near the breech balls.
Perhaps you are used to seeing the ones that stick up from the top of the action. Or perhaps the crystal "windows".
These indicators turn counter clockwise as the gun is cocked and return when it is fired.
Very unusual gun and probably very rare. Seems to be a steal in price if it is at all sound.
Best,
John

Humble member of the League of Extraodinary Gentlemen (LEG). Joined 14 March, 2006. Member #1.