Flashing red light is problem with eeprom.
Fixes:
If you have never de-soldered your eeprom chip then your eeprom has somehow become corrupt.
Use an eeprom reader/writer to rewrite your eeprom to the chip.
If you have, in the past or recently, de-soldered and re-soldered your eeprom chip then the problem is your soldering.
Check it or re-solder entirely.
Side note: DO not desolder your eeprom. It is not a smart idea. Building a reader is safer.