The flashing icon is display when your game ping is getting high. The game is not connecting with the server in a timely manner and may have lag. When there is extensive lag with a server, sometimes it seems the computer freezes when it really doesn't. In reality, it is waiting for game data from the server and has gotton so behind, it is not paying attention to your input. I think this is what may be happening. It it stays in this state from 2 minutes, then the computer is most likely frozen.
Turning down your graphics settings may help if its just lag, but if your computer is freezing, hopefully the coming patch will solve it.
(I may not agree with thoughts posted under this name)
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