I have tried connecting the FBE200 to another computer, with a computer and FBE connected to a switch working on the same platform (192.168.1.1xxx), the result is the same.
The blinking begins as soon as the equipment is connected to the power supply. I think the problem is beyond the LAN connection.
Send the screenshots and photo of the equipment interconnection. The system is installed in a TV master. There is perfect connection with ATEM switch, with three computers, with video processor (all of them connected in a network)