Mine blink Green, not sure whats up with red blink, specially if its hashing fine. With a EVGA G2 1300 you can run both at full speed of 393hz~ for 1.3TH/s. It'd draw about 1300W.
Mine blink red, green, amber. I think green is the network, amber on the blades and red on the BBB. Might be different for different batches.
Well i'm talking about the monitoring led next to the Ethernet cable. There's a green and a red LED. The red one turn off and the green one blink slowly when its working normally.