The flashing red icon means the CR1616 backup battery is dead--they only last about a year. See page 23 in the manual for pictures and details.
I don't know why they don't show this icon with the other on-screen icons. The camera will work fine without that battery except it will not be able to record the correct date and time and it may not save your settings.
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I had the same problem with my ZR800. After lots of searching on the net I found out what the symbol indicates. It means that the little battery that holds the memory for the clock is weak. It's under a little cover behind the main battery compartment. I put in a new one that the flashing icon is gone. I put the battery I took out into another ZR800 and the icon started flashing on it. A simple solution that Canon should have posted in the manual.
it means a particular battery is low or out of the camera, which hold the date and time memory of your videos. don't worry it doesn't affect your any recording or playback of videos. I have one and is blinking from past one month. no issues at all.
The icons from the left:
1. Power indocator
2. Hard Disk indicator --> it is a tube icon, not battery, but means hard drive.
3. Power Source indicator
4. Bluetooth indicator
The third from left means the power source indicator. Normally it is light green. If there is battery problem (can not charge or battery overload) it flashes amber/orange. If flashes red, it indicates that the battery power is low. You need to change the battery or connect the AC adapter.
Based on the settings that your camera is in, it is telling you that you are at risk of camera shake. This is just telling you that you can expect to see a blurry picture if you continue to take that picture and that it will slow down the shutter speed to achieve the proper exposure and that is why you are at risk of camera shake. The longer the shutter is open, the more chance that you are going to move so to solve this you have a few options:
Mine had that too. It means the backup battery is low. It's located in a panel behind the LCD screen. You can find details on page 19 of the users manual. If you don't have your manual, you can download it for free from canon's website.