RE: I need help!
I would guess its some sort of "arming" circut. it probably indcates that the heli is properly armed and ready to fly. typicaly there is some comunication between heli and transmiter for electric helis that ensures that the throttle and throttle trims are at zero to prevent the blades from spining up before your ready. also some other electronics need to have a few moments to stablize like gyros for example, on my heli you power the transmitter first, then plug in the power for the heli , if the throttle is any place but zero the helli wont arm and it won't fly. its an important safty feature. I suspect red blinking means that its arming , and solid red means " ready" do you have an instruction manual with this thing ? is there an english translation? best of luck , thats my best guess as to what is going on.