I am almost done redoing the electricals on my '75 550. It's been a trip.
I am looking at the schematic for the '77 CB550 and it has the Brown and Blue wires as the turn signal buzzer. Depending on which ends are male and female, one may take a male from the signal switch and one may take a male from the buzzer (the schematic shows two interconnects). When you turn on the turn signal, it connects Br/B with orange with completes the path to ground through the turn signals. Thus, it should buzz each time the signal flashes on. Therefore, the Br/B that has 12 V should be the one coming from the buzzer. However, on the schematic, it also looks like there is a Br/B coming from the tail light fuse. It looks mislabeled as one end says Br/B and one says Bk. So, that could be part of your taillight problem.
Check your tail light to make sure you have the correct bulb. It should have two filaments. If one is broken or if it only has one filament, you will not get two intensities of light. There should be three wires: Brown, Green/Yellow, and Green. When the key is on, Brown should have some voltage, Green should be grounded to the frame, and Green/Yellow should have voltage when you press down on either brake. So, checks those things out and start tracing the problem backward.