Replace the buffer boards. they are called the y z boards
the problem is probably your main power board.. these can be replaced by yourself.. find the model no and then enquire about a replacement board ..I have had similar problem tv repairman wanted $500+ to fix board only cost $134..make sure to disconnect power supply ..undo all the screws around back of case including wall mount and base follow power lead entry into case do not touch any circuitry as some capacitors store power disconnect the little plugs that run from the boardundo the 4 screws and replace with purchased replacement board and re assemble..
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/
Blinking codes details to many popular brand TVs are given. Surf the site with patience.
Testimonial: "The blink code does not apply for this model. It seems more of a firmware issue. Someone suggested the 30 seconds reset multiple time which seem to do something because now the tv powers on and goes to the Vizio logo screen and just sits there. After about 2 minutes, it power cycles. I currently have an Ethernet cable and a blu ray connected to it to see if it detects any incoming signals. So far nothing."
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