Blinking blue light & noise - IO Magic Corporation GigaBank (I250HD35) 250 GB USB 2.0 Hard Drive

These blinks [flashes] are fault indication (Error Codes). From the number of blinks occur at one time switch ON, you can get an idea about the faulty circuit section inside it. This will make repair easy. These are called blinking codes. Make sure about the exact number of blinking of the standby/power LED, by switching On & OFF the set, for at least two times. Count it carefully. If you wish to get some details, check the site linked here. It has details about blinking codes, and fault locating procedure, to many popular brand TVs and other devices.
http://electronicshelponline.blogspot.com/
If blinks continue without any pause, the main board is faulty.
Search the site by type in the "brand name" to your device, in the "Search box at the top right of the display window of the Homepage" to get gathered related posts...

These blinks [flashes] are fault indication (Error Codes). From the number of blinks occur at one time switch ON, you can get an idea about the faulty circuit section inside it. This will make repair easy. These are called blinking codes. Make sure about the exact number of blinking of the standby/power LED, by switching On & OFF the set, for at least two times. Count it carefully. If you wish to get some details, check the site linked here. It has details about blinking codes, and fault locating procedure, to many popular brand TVs and other devices. Viewing it in "Mosaic" or "Magazine" will make surf easy.
http://electronicshelponline.blogspot.com/
Blinking codes details to many popular brand TVs are given. Surf the site with patience. Do a search by type in the brand name of the device to the search box.

green=power in motherboard.
blue=stand by.
yellow=memory powerd

HOW TO SOLVE THE GREEN & BLUE LIGHT STILL BLINKING

If you can open than open your LCD tv & checked Inverter Borad it have White & red color connector may be this board is defective.

UNPLUG all keyboard, mose and etc and plug only power suppl and then video cable with the cpu and then power on you can get the display in you monitor

Ur video ic inverter board is dead.
U need a new one.

It sounds like your starter needs cleaned or replaced. The poping noise could be the actuator not engaging right. As for the engine light, it could be just a coincidence.

Maybe this can help you:
www.devicedriverfinder.com/blog/device-errors/external-hard-drive-troubleshooting