Mitsubishi Repair Problems? Ask a Mechanic for Answers ASAP
The orange center differential light in addition to telling you when you are switching to a locked range also acts as a "check engine" light of sorts for the 4WD system. Any time you see it flashing constantly and it is no in the midst of changing ranges, it is indicating a fault is recorded in the transfer ecu.
Of course the ideal procedure here would be to get it on a professional scan tool (not a code reader) with transfer ecu/transmission access and read what faults are recorded to cause the light to flash.
The majority of the time when we see this it is usually related to a front axle control issue, however that will normally result in unusual behavior from the front wheel green lights as well. If they are behaving normally (off in 2WD, on in 4WD of course) then odds are that is not the case here.
The center diff light can flash as a result of any issue with the front axle control, wheel speed sensors, prop shaft sensors, and so forth... too many to be able to speculate about without first scanning the ecu to see what faults are set. If we had front wheel light malfunctions too we could probably speculate a little bit accurately, but with only the center diff light flashing, you need to know the codes to determine what is going on with any accuracy.