i had the same problem. intermittent blinking scroll lock. toggling scroll lock didn't do much, since Excel appeared to just continue, and keep on toggling scroll lock, so no luck there. once in a while, it would be fine, normal behavior. i thought Excel was going batty. bit rot!
to be fair, i only noticed this behavior in Excel but i believe now, it was system wide.
(just that not all programs do much with scroll lock, as Excel happens to).
turns out, a program i really like (PopTray v3.2) has a plug-in i installed to FLASH the scroll lock when new mail arrives. i hadn't noticed on this particular laptop, since there's no actual scroll lock light (opps!). and i totally forgot about the setting later.
so in my case, another program (PopTray) was to blame, actually activating the scroll lock. probably why *some* people report a system reset helps (knocks out the application fiddling with the scroll lock state?). though, maybe something you load at start.
PopTray is a great program by the way.
i just disabled that plugin.
SO - double check that other installed software isn't doin' something similar? May not be Excel at all.
