I don't see anything wrong in the procedure. Can you make sure serial port is working correctly for you ?
Like I said, if I boot the TI validation image it works fine (same for any other Linux distro panda image), that meant I see output on the serial port (115200). Also, for Linux images STATUS1 led is on at poweron but goes off after a couple of seconds, I believe at kernel setup. This isn't happening with the Android image, it's permanently on. I've tried different serial speeds (but I don't think that's the issue) and two different sdcards 8gb and 32gb from different vendors.
thanks