The flashing power light is a sure indication of a failure in the power supply board. There are parts called capacitors that overheat and blow out causing the power supply to not be able to power up correctly. Here is a link to information showing what to look for and replace on your power supply board to repair it.
http://www.ccl-la.com/catalog/product_info.php?cPath=21_30&products_id=117
I hope this helps,
BuddyMc
Look for bad caps with bulging top in the power supply. I would replace all 10 with PANASONIC FM or FC series from DIGIKEY. Post back what you see inside so we can guide you further, see example of failed monitors due to bad caps: http://s807.photobucket.com/home/budm/allalbums
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When you say connecting and disconnecting to computers changes nothing, do you mean that you've tried the same monitor on different computers?
Have you installed any new display drivers or otherwise changed any display settings on your operating system before this started?
You might want to try using a different data cable, or power cable that you know are working on that monitor.
If any combination of computers, data and power cable affect nothing, than it's probably time for a new monitor. Fixing them generally costs more than simply replacing them.
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