If both lights were out then either you've got no power at the wall outlet or the wall transformer is bad I think. Or, it could be that the wall transformer and the charging circuit in the battery pack are not recognizing the pack. Many cheap chargers will not recognize a completely dead pack. I've had friends bring over dead drill packs for me to try to recover. I was able to charge them fine on my Accucel 6, where as on their stock drill chargers the light wouldn't even come on to recognize them.
There's a red light on the wall transformer? I don't think mine has that. Might be an update to them to show they have power. If so, does anybody know if that red light will come on if the pack isn't plugged in? If it will, then unplug the transformer from the pack and see if the red light on the transformer comes on. If it doesn't then either you have no power at the wall outlet or the transformer is bad.