I think you are right. It turns out it was powered on and sitting on a desk a few days ago when this happened. I am working with a guy name Blake, and he was trying to get emoncms working again. He was logged in froma laptop to the iotawatt web server and lost connection. That is when the red light came on.
If you can point me to better instructions for the firmware, I would like to try. We have a test coming up this week, were were using the IotaWatt for. We have heater blankets on a Gas Turbine, and we were reading 14 CTs off the SCRs that feed the heaters.
I cant find the firmware.bin files on GitHub. But I think the link is taking me to a new charlie release.