Have you changed refresh rates recently? I know that one of my monitors with a not so hot refresh rate will blink flashing lights when its trying to run at a rate that is too high for it.
Edit: I recently had to change monitors for my computer, but forgot to change my refresh rate settings for the new monitor before I booted up, which led me at blinking lights when I booted. Tried changing refresh rate in Safe Mode, but that didnt work either. So I had to manually write down all the keysteps in changing my refresh rate (windows key, up 4, display, enter, etc). It was a pain in the butt. So if you plan on changing monitors to a "lesser" monitor that doesnt support the same refresh rates as your normal monitor, I suggest changing the refresh rate before you switch if possible.
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Shiromagius
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