Those 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://homenol.blogspot.com/
http://electronicshelponline.blogspot.com/
If blinks continue without any pause, the main board is faulty.
Search the site by type in the "brand name" to your device, [Exclude the model number] in the "Search box at the top right of the display window of the Homepage" to get gathered related posts.
SOURCE: Flashing Green Light on Front of 73" Projection TV
on the signal board replace the caps by the 5/9 volt regulators. c2p04 is the main culprit. 6 caps in total can be changed. I believe c2p05 also.
SOURCE: my t.v. wont turn on.
hold down the menu + device for five sec what is the error code?
should be like 1 pause then a 2 or something
SOURCE: mitsubishi-ws55859 power failure flashing timer green light
the capacitors on the DM need to be replaced. Very easy repair you can get the repair kit at this link which is for your model it contains the replacement capacitors and step by step insturctions.
http://servicemanuals.vstore.ca/product_info.php/pName/v21v19-mitsubishi-dm-repair-kit/cName/repair-kits
SOURCE: Model WS-55909 Green light flashes won't go out. No TV
You need the WS55909 - WS73909 DM kit. You can get it at the following link which contains the capacitors and the CD with instructions on how to do the repair.
http://www.tvrepairworld.com/
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