I got the blinking red light several times even though I felt it was in the correct position. Then I noticed when sliding it around slightly, it went to a solid green, not a blinking green light like what is supposed to occur. The chip was in the programming mode so I don't know what happened. When I would turn off my Xbox it would go back to the red flashing light. After several attempts to readjust it to find the blinking green light I just left it at the setting with the solid green light. Has this happened to anyone else before. I haven't tested it yet but I thought I'd ask.
P.S. Has anyone else had a hard time replacing the Xbox cover? It's frigin' irritating.