Hi Felix and Aza,
To understand what is going on in your data it is useful to think about the multiple possible sources that may be generating the fluorescent signal. These are:
1. Fluorescence from the flurophores you are expressing in the tissue (GCaMP and mCherry).
2. Autofluorescence from normal brain tissue.
3. Autuofluorescence from the optic fiber between the minicube and the sample.
Our experience is that the 465nm LED excites substantial autofluorescence from the optic fiber in both the green and the red channels, whereas the 560nm LED excites minimal autofluorescence from the optic fiber. You can test this by pointing the optic fiber that normally goes to the subject at a black light absorbent target and varying the power of the 465 and 560nm LEDs. It is worth doing this in both continous mode and time division mode to get a good understanding of what is going on. On our setups, varying the 465nm LED power in continous acquisition mode causes large signal changes for both the green and red channels, due to autofluorscence excited from the fiber. Varying the 465nm LED power in time division mode causes changes in the signal level for the green channel, but not for the red channel, because the red channel samples are being read when the 465nm LED is off. In either mode we see little variation in either channel when we change the 560nm LED power because this led does not excite much autofluorescence from the fiber. Of course, if the fiber is pointed at a fluorescent sample which absorbs at 560nm and emits in the red channel (e.g. mCherry or TdTomato), changes in the 560nm LED power will drive large signal changes in the red chanel.
Given that you see essentially zero signal in the red channel when you are in time division mode, this suggests that there is minimal mCherry expression within range of the fiber (I assume you have the 460nm LED on max power - what light power do you have for each color at the fiber tip). Your observations about how the signal changes when you vary the LEDs powers could be consistent with your signal primarily being autofluorescence from the fibers. It is really hard to know what is causing those large slow shifts you see in the green channel - they do not look very physiological though I don't know what neuronal population you are trying to record from. They could be movement artifacts or due to the rotary joint if you are using one, though you would normally not expect ~20% signal changes. Have you done any histology yet to verify your fiber placements and virus experssion?
best,
Thomas