Tamiya TBLE-02S ESC Flashing Red/Green Quickly
I had this problem shortly after The Hornet had a good few runs - the ESC was flashing - I couldn't find anything online, or find the manual online, so I've included it in this post.
I too read that this red/green flashing means the ESC is in the wrong mode for the type of motor (trouble shooting on page 2 of instructions)
So I attempted to reset the ESC to the type of motor I was using, and it worked again.
Looking at the attached manual images, find Motor Mode Setup on page 2 and follow the flashing light instructions. I can only think that somehow the ESC unit reset itself between turning on and off?!