I have an acer one 10, about three months or so old. I left it unplugged and unused for a few days, then went to charge it back up-- when I returned to it a few hours later, the normally red charging indication light is now flashing red and blue. There's nothing in the manual about a red/blue flashing indicator.
I've searched all over for the problem and have come across the "hold power button" and "hold power button and volume up (or down) together" tricks but nothing seems to work. I've tried it with and without the keyboard attached, even. Nothing.
In the past I've been able to fire it up with no problems after letting the charge run down, all I had to do was let it charge for a bit and it would come on with no problems. The flashing blue/red light is a mystery.