A flashing timer light on any JVC TV indicates that the power unit has detected a fault somewhere and has shut down to avoid any further damage to the circuitry. The fault is usually caused by either a bad joint actually on the vertical scan IC's board connections, or that the IC itself has failed, it doesnt cost much to repair as far as component prices are concerned (about $20.00) but it depends on what the person repairing charges for carrying out the work.