If you a text message you didn't read, although you cleared the status bar but didn't actually read the text, it will do that. Not sure that's the case here, just one suggestion..
Yup. If it's blue or whatever color you assigned for text notification, it will flash until you read or clear the unread texts. Happens on mine.
The flashing blue LED on my Razr Maxx indicates a new Facebook post or message.
Notification light is set to green. I even tried changing it to a few different colors and its still always just the blue/purple whatever color you want to call it.
Deleted all my text messages. It still does it.
Yahoo mail. Do you have a yahoo email account on your device?
DROID RAZR MAXXIMIZED!!!! PREPARE TO BE VANQUISHED!!!
Looks like that is the case, just sent a few test messages and thats what it looks like it is. That is my spam account but I still receive some legitimate messages from people that cant figure out how to change my email in their address book, or wont. haha