Just to add to this thread, I recently had the same 'bleeping' sound from my TEU-101BK but mine was correctly setup and I was running it in the park when said bleeping began. Spoke to the shop where I bought the kit (Hotshot re-issue + Acoms Techniplus pkg) and they told me to unlpug everything and use the receiver battery box in the pkg to check that the receiver was working properly.
Bleeping meant that there was no signal being sent from transmitter, was what I was told but how that could happen with new batteries in the transmitter and a fully charged 6 cell is beyond me, but steering servo also was not responding. I thought I had fried my motor or esc or receiver, but bleeping esc/motor meant that something was alive. Anyway, I unpulgged everything and used the battery compartment with 4 x AA and hey presto servos now respond so put humpty dumpty back together again and everything was fine.
On closer inspection of the transmitter battery compartment, it seems as if it's possible for the + side of the batteries to not be in contact with the very thin contact post and hence the circuit isn't completed. It happened again this evening when I switched on the transmitter, then the exc, then the bleeping started again.
However, there were no signal lights on the transmitter and the battereis are not dead. So I wriggled them around to make sure they are all in contact and hey presto, bleeping is gone.
So it seems that Tamiya have manufactured a nice piece of kit in the esc, but the Acoms transmitter has contact points that the batteries are prone to slip off from.
If anyone else has bleeping issues, perhaps this is worth trying out.
Azkuma