I have a whirlpool model EE3Z50RD055V 50 gal water heater. It has the energy smart control on top.

http://waterheatertimer.org/Whirlpool-Energy-Smart-electric.html
Older style or newer?
5 flashes on older unit indicates lower element is bad.... so maybe the control board is bad
Test your old element for continuity
http://waterheatertimer.org/How-to-test-water-heater-element.html

http://waterheatertimer.org/How-to-troubleshoot-electric-problems-with-water-heater.html#new
Was tank full of water before power was turned on?
Gene

If you need further help, I’m available over the phone at https://www.6ya.com/expert/gene_9f0ef4df2f9897e7

Whrilpool will send information.
Copy following link for resources, including images showing temperature sensor (thermister):
http://waterheatertimer.org/Whirlpool-Energy-Smart-electric.html
http://waterheatertimer.org/images/Whirlpool-energy-smart-part.jpg

Remove cover on outside of tank.
The foam insulation is very stout, and must be cut back to access sensor located above each element.
Insulation must be put back when finished.
After insulation is cut back, it appears you can remove the sensor... I am assuming the wiring can be unplugged, or spliced. It is not possible to replace wires that run between sensor and top of tank because the foam insulation is too tight and wiring is not inside a conduit.

Add a comment and say what you discover.

If you need further help, I’m available over the phone at https://www.6ya.com/expert/gene_9f0ef4df2f9897e7

1) Bad thermostat or thermistor depending on model.
Whirlpool/Craftmaster/American energy smart has control box on top, and you can order parts from Whirlpool.

2) Copy following links to help identify product.
http://waterheatertimer.org/How-to-troubleshoot-electric-problems-with-water-heater.html
http://waterheatertimer.org/Whirlpool-Energy-Smart-electric.html

3) Add a comment with more detailed information:
You have electric water heater.
Unknown brand, possibly energy-smart.
Unknown control box.
Cut off? Do you mean 'reset' is tripped?

4) Whirlpool energy smart requires 10 gauge wire and 30 amp breaker.
Control panel may not function with undersized electric supply.
Control panel has blinking-light errors ... if no error code then maybe the control box is bad.

If you need further help, I’m available over the phone at https://www.6ya.com/expert/gene_9f0ef4df2f9897e7

1) Copy following links for whirlpool energy smart resources:
http://waterheatertimer.org/pdf/Energy-Smart-troubleshooting-guide.pdf
http://waterheatertimer.org/Whirlpool-Energy-Smart-electric.html

2) Control box is probably bad.
There are 2 types of control boxes for older-style energy smart water heaters.
You will need model number and serial number from label on side of tank to order from Whirlpool.

3) This older-type energy smart water heater is probably discontinued by AO-Smith, American, State, Craftmaster, Reliance water heater group that makes Whirlpool and Kenmore water heaters.
New generation energy smart offers interface with home automation and/or non-existent smart grid.
Older energy smart only offered potential interface with non-existent smart grid.

If you need further help, I’m available over the phone at https://www.6ya.com/expert/gene_9f0ef4df2f9897e7

Hi. Call the service. They may fix it. BTW very much people complaining to this model.

I run out of hot water after one short shower. Lights looks normal. I have adjusted it every way I can, still the 50 gal water heater runs out after one shower. I have check the elements and are fine.

Water heater is not identified.
Add a comment with information that appears on label on side of tank for possible help.
You might be talking about Whirlpool energy smart electric.
The error diagnostic lights flash a code: the code decipher is printed on the diagnostic control box on top of heater.
Call Whirlpool: you need model number and serial number from label located on side of tank.
1-877-817-6750

Open following links for energy-smart resources and typical manual:
http://waterheatertimer.org/Whirlpool-Energy-Smart-electric.html
http://waterheatertimer.org/pdf/Whirlpool-energy-smart-electric-manual.pdf

The evidence points to a control malfunction.
Call Whirlpool for assistance: 1-877-817-6750
You will need your model number and serial number located on label on side of tank.
Serial number is required because models change as the technology evolves.

Open following link to read product details about the Energy Smart, and download typical manual.
http://waterheatertimer.org/Whirlpool-Energy-Smart-electric.html

Note: Energy Smart water heater requires 10 gauge wire and 30 amp breaker.

Typical energy smart manual shows: 1 flash is start-up error, which indicates 'Power ON with no water in tank.'
This is not possible because at least the upper element would burn out, if not both elements.
If upper element burns out, this water heater will not make any hot water, since it is wired for ordinary non-simultaneous operation.
There cannot be air inside the tank since your hot water faucet is not spewing air.
http://waterheatertimer.org/How-it-works.html

Also be aware that model numbers change.
Read following account of fellow who replaced control board on his 4-year-old energy smart, and how he discovered wires are reversed on newer control boards. Be sure to ask Whirlpool about this possibility, in the event they say control board is faulty and send you new board:
http://www.fixya.com/support/t8263226-our_water_heater_doing

Two flashes means that the high limit temperature has been reached. Once this happens, the temperature control system will shut off. Make sure that all element access doors are in place. Push the "Push to Reset" button to restart the temperature control system. The water heater will self test for ten minutes before it will start to heat. If you get the 2 flashes again then you may need to replace one or both elements. Each element should measure 5-25 ohms.

The "thermostat" is the knob marked "Temperature Control". Make sure that the operating mode is set to 1,2 or 3.

faulty, replace it because that leak has damaged the tank inside it must all rusty and will give up soon