I have experienced the same thing, but with many different colors. I attribute it to having the color pearl program installed because all of those colors show up within the LED. Sometimes the LED will stay on solid and stop flashing, but it does not really appear to affect the operation of the pearl.
If you have the color pearl program installed, disable it. And if you have the coverage LED turned on, you will just see the normal colors depending on what is enable through your profiles (red, green, blue for bluetooth).