I am having the same issue
i at first had the red & yellow flashing lights with the frequent beeping. first i tried cutting the power and pressing buttons to fully discharge the unit, powered back on to same situation. then i opened the unit and found at least one of the capacitors bad. I ordered from arrow, and got 4 capacitors overnighted for a whopping $5. I replaced the capacitors and reinstalled. the red and yellow lights kept flashing well after 20 minutes, but no beeping (myQ said it was online) - so i pulled it back apart to investigate. I found that the trace below the left capactor had burned away from the through-hole. with no mirco-soldiering equipment i back traced the traces to find points large enough for me to soldier to. attached is an image depicting the points i used to connect the jumpwire (not my photos, I didnt want to pull the button off the wall yet again). upon reinstalling after the jumpwire was added, the red and yellow lights flash for about 2 minutes (charging) then the unit resumed normal operation. I didnt even have to reprogram the clickers and the gateway/app found the door online immediately when charging stopped.