The issue seems to occur randomly, though some users have stated that the problem emerges during heavy workloads. In some cases, the problem may only occur once or twice, while for others the blinking occurs rapidly, accompanying significant system slowdowns.
As to the source of the problem, the current thinking on the issue per the discussion board is that since the issue is found only on the MacBook Pro notebook, it has something to do with the graphics drivers working to manage the dual graphical processor unit setup. Non-Pro MacBooks have yet to experience this issue and the problem seems to occur when users are utilizing the GeForce 9400M integrated GPU, which gives it the same graphics configuration as the non-pro MacBooks.
Although the problem will probably be resolved via a future software update, users can attempt the following potential fixes, as suggested by MacFixIt: