Red - Your Blumoo is plugged in and receiving power, but nothing is connected via Bluetooth.
Blue - Bluetooth connection is active. This happens either when you have the Blumoo App open or you are streaming music to that Blumoo HomeBase. When it flashes, the HomeBase is sending an IR command.
Green - The Blumoo HomeBase is waiting for a firmware update. IF the update doesn't start you may need to kill the app and reopen it again.