The change oil indicator will flash for a while after the hour meter reaches the milestone that turned it on. The below is from the LT1050 manual
The LCD will alternately flash the recorded hours and CHG and OIL for five minutes after every 50 hrs of recorded operation. The maintenance interval lasts for two hours(from 50-52, 100-102, 150-152, etc). The LCD will flash as described above for five minutes every time the tractor engine has been started during the maintenance interval.
By not starting do you mean it doesn't turn over or does it turn and not start?