The tremolo oscillator is pulsing and not starting up. Which caps did you replace? You could just shotgun the circuit and replace all of the feedback caps as well as the cathode bypass cap. Check the resistors as well.
The reverb tank in these amps are ceramic transducers, just like the old Danelectro/Silvertone tanks. They don't sound very good, but the few that I've worked on all were at least still working, unlike most of the Danelectro ones.