I have two Roku 2 boxes that I've had for several years now. Both of them will start doing the double flash for hours at a time, although playback is not affected. It does not seem to happen on the home page, just when streaming or otherwise on a streaming channel. I have cable internet and there do not seem to be any connection issues. No lagging; everything plays fine. Just blinking. It makes me think I'm about to lose my wifi chip, but it's happening with both boxes. Seems like weird timing for it to be the chip in both boxes...thoughts?
There are five different Roku players with 2 in their name. Three are no longer supported, and even the newest model (4210) is almost 6 years old. If they are still working, I wouldn't worry about a blinking light. But it's also possible that something internal is acting up. There are newer channels that won't even work on the latest model of Roku 2, so you might be approaching the time for replacement.
Like I said, as long as it's working for you, just ignore the flashing light. There's nothing that can be done about it anyway. It either works or it doesn't. But regardless of the model you have, it's provided a good long service.