I experienced the same issue. I thought my Obi200 might be bricked. Every time I upgraded the firmware, it would reboot and after a minute would flash red/green. I tried rebooting modem, router and Obi multiple times. It didn't help.
Through the whole process, I was always able to type the Obi IP address in my browser and get to the internal page that allows you to update it's firmware. From past experience, any devices that I have ever owned that became bricked, would not connect to to my network, the fact that the Obi's firmware update page was accessible gave me some hope that it might be fixable.
My netgear router set to reserve a specific IP address for the Obi based on it's MAC address. Thinking my Obi was likely dead, I removed the reservation from my router, and rebooted the router. I plugged the Obi back in to see if it would still show up on my network. It did show up with a different IP address as I expected. I tried one more time to upgrade the firmware, and after it rebooted, the Obi started working again. All lights green, and able to make and receive calls.
I am not sure why it started working after removing it's DHCP reservation. The Obi was obviously communicating with my network with it's DHCP reserved address, or I would never have been able to see the firmware page.
I'm confused, but happy to have my Obi back in action.