Flashing red is a fan fail . It is probly blinking like 3 short and 1 long blink. If so then most likely your tv needs to have a new dmd fan installed.
Also once that tv detects a stopped fan it must be unpluugged from the wall outlet and plugged back in to get it to even try to turn on again. Sometimes fans will kinda work after a few trys or when the tv gets moved around.
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it is the status light
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