I get this same error on a brand new Raspberry Pi three. I had Emulation Station running and one day the Roms stopped launching and I found AttractMode. I got version .4 sort of working without art and then downloaded the artwork version and I'm getting the pulse 0x500 error. There was initially an error about attract.cfg, and it was corrupt, but I replaced it with the version from the non-artwork version.
Is there a specific fix for the error? I am a noob.
(I actually built a cabinet with t-molding, lighted marque and the whole bit after seeing the attract mode online a couple of months ago. May have been the robospin. )