Hello,
Sorry for the late response. The lights should not start blinking; they should just light up. After setting a static IP on your PC, you should be able to reach 192.168.1.1/index.html to update the device firmware version. Please try accessing the bootloader menu again by following all the steps described on our wiki page. If it fails again, your device will likely need an RMA procedure. For that, please contact us through our website by filling out the form at this link.
Best Regards,