A month ago, I saw that my Cam Pan V2 was flashing red and blue lights and per Wyze rep instructions, I flashed the firmware and it seemed to have worked. However, today, I noticed that the same thing is happening. To be clear, when it is sitting still, it shows blue light but when it turns, then it turns red and after sitting still, it turns blue again, rinse and repeat. Like before, everything seems to work fine except for the flashing red and blue lights. I have tried unplugging it, wait 30 secs, and plugging it back in but same issue.
Flashing = blinking
Solid = continuous
Solid blue or flashing blue?
Solid red or flashing red?
Solid blue or flashing blue?
Solid blue then solid red. I found the answer on Reddit, apparently it’s normal operation, the red light just means it detected motion or sound. Wish they put that in the damn documentation.
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Yes, that is normal. 
Ref (section: Status Light Guide Detailed):
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