That helped! I did download a new copy of Lucid 5.2 and now the flashing flash drive problem is cured.Ideas to try:
ISO of Lucid 5.2 is bad download. It does happen. Internet hiccup.
Use the Boot flash program to setup the flash drive.
Reformat and or partition flash drive.
Flash drive needs to be clean for install. Old files mixing with new install. Can cause problems.
Doesn't look like either version, 246 or 5.2, can create a valid flash drive without the ISO file. Both now try with the Universal Installer but the resulting drives will not boot - invalid boot drive. The partition boot flag is set but the ldlinux.sys file is missing and just adding it to the drive doesn't help.
Thanks for the good idea.