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Don't know this particular machine, of course.
In other 1" machines, flashing transport controls usually indicate either absence of some critical signal -- video in, reference black, or possibly separate sync, etc. on a machine of that vintage. Could be NTSC/PAL/SECAM issue too, depending on its system standard.
Secondarily, it could mean trouble in the related system -- although I've not seen that on a 1" machine. So, flashing FF would mean some sort of FF system issue -- stuck brake release, bad motor fault -- something like that. But that's way, way more of a guess than answer 1.
Are you sure tape is threaded correctly? Oxide in/out on the reel was a variable back then, I believe. Wiki might know...
Chip
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