If this is like the problem i've had, it is related to the power supply to the base being disrupted.
What I found fixed the problem sounds rather mad, but it worked...
Firstly, you need to delete the WHOLE "calls" log (press the "Calls" button and press and hold "Del" key until the tone sounds).
The phone and base will still flash until you receive another telephone call. Clear this call as normal, and the phone and base should stop flashing.
I hope this solves your problems
J, January 2005