The blinking phenomenon stems from High-Bandwidth Digital Copy Protection, or HDCP, a form of DRM for signals that run through HDMI cables. Initially, Westinghouse VP of Marketing Rey Roque explained that the issue was firmware within some of their television sets but has now retracted that assertion, placing the blinking blame on the PlayStation 3 itself. Roque notes, "Westinghouse products are fully compliant with the HDMI and HDCP specs."
Westinghouse and Sony reportedly met yesterday to discuss the issue, but Popular Mechanics went ahead and offered a quick-and-dirty fix to the problem: simply unplug HDMI cable, wait a few seconds, and plug it back in. Video of the phenomenon and its quick fix is embedded after the break.