A blinking 'Program' light indicates a power interruption. The unit lost its memory. You need to reset the clock.
Press and hold the 'Program' button. The hour display will blink. Use the 'Hour' button to set the current hour. Press 'Program' again. The minute display will blink. Use the 'Minute' button to set the current minute. Press 'Program' a final time to lock it in. The blinking will stop.