I pitched a secondary yeast 3711 into 5 gallon of 1.012 wort to dry it up.
Should I expect little or no krausen? It's been two days and activity seems light, but I'm thinking that could be to such little sugar left.
Your thinking seems correct. I wouldn't be surprised if fermentation is almost done already. Let the yeast do their job; take your gravity readings; reap the benefits.