Shoutbox

Would dropping a wireless conection mean it's a bad surge protector or are the two unrelated?

That would be very unlikely. The only POSSIBLE way for the surge protector to cause problems is if it over-loads, but if it over-loads it shuts itself off and you have to manually reset it.

In short - no.

What would it mean if I had a blinkining red light on it?

That it could be faulty, which means get a new one.