ACR FLC DECLARED AN EMER AND DIVERTED AFTER SPLIT FLAP CONDITION WAS DISCOVERED.

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AIRLINE MAINT HAD JUST CHANGED THE INBOARD FLAP INDICATOR AFTER THE INBOUND CREW RPTED SPLIT FLAP INDICATIONS. WE WERE LED TO BELIEVE IN FACT THAT THE FLAPS WERE OK AND THE INDICATOR WAS BAD. IT HAD BEEN GND CHKED AND WORKED OK. AFTER TKOF IN DENVER WE NOTICED THE INBOARD FLAP INDICATOR STUCK AT 5 DEGS. WE WERE VERY BUSY WITH CLBOUT OVER THE MOUNTAINS AND WX. THE AIRPLANE WAS FLYING NORMALLY; SO WE WERE CONVINCED IT WAS INDEED AN INDICATOR PROB. THE CAPT SENT A DEADHEADING CAPT BACK TO CHK THINGS OUT. WE LEARNED THE FLAPS WERE DOWN 5 DEGS (ON THE INBOARDS ONLY). WE CHKED THE WX AND DIVERTED TO RENO BECAUSE OF FUEL BURNOUT CONCERNS AND FLAP MECHANISM CONCERNS. WE DECLARED AN EMER AND HAD EQUIP STANDING BY. FOLLOWED THE SPLIT FLAP PROC AND LANDED UNEVENTFULLY. CALLBACK CONVERSATION WITH RPTR REVEALED THE FOLLOWING INFO: ACFT IS A B727-200. FO STATES THAT FLAP PROB APPEARED TO BE RATHER INNOCUOUS AT FIRST. IN THE FUTURE HE WOULD BE VERY HESITANT TO BUY INTO THE FACT THAT A PROB WAS IDENTED OR HAD BEEN FIXED. DIVERT DECISION WAS MADE WHEN FUEL BURN BECAME EXCESSIVE. DURING A 2ND CHKPOINT IN CRUISE IT WAS REALIZED THAT FUEL WOULD BECOME A SERIOUS CONSIDERATION -- THEY WERE AHEAD OF THE GAME IN THE CLB; BUT SHORT ON CRUISE. RPTR FELT SOP'S WERE GOOD FOR THE SIT. THE PRIORITY WAS NEVER IN DOUBT -- THERE WAS ALWAYS SOMEONE RESPONSIBLE FOR FLYING THE AIRPLANE; ONLY. SUPPLEMENTAL INFO FROM ACN 308795: DUE TO WX AT DEN LOW CEILING; ICE AND RAIN WE ELECTED TO CLB TO OUR CRUISE ALT. SUPPLEMENTAL INFO FROM ACN 308793: WE WERE EXTREMELY BUSY UNTIL CRUISE ALT OF 35000 FT AND SINCE I HAD BEEN PERSUADED THAT IT WAS AN INDICATOR PROB AND THE PLANE FLEW PERFECTLY; I DIDN'T SEND SOMEONE BACK TO VISUALLY CHK IT UNTIL CRUISE ALT.