I got my Live Hub a little less than 4 weeks ago. It worked fine during the first few days. But around the 5th day, I got the blinking WD logo-shutdown problem. It drove me really crazy for a week I think as I couldn’t figure out how to solve it with only the power and the reset buttons.
It turned out that the problem (which could be unique to me) is that I put a mouse pad on top of the Live Hub which kept the Hub really hot. I’m not sure but it is probably equipped with some auto-shutdown during high temp feature.
Ever since I removed the mouse pad, the Hub’s temperature has been normal and the shutdown problem never occurred again for more than a week now.
I hope your blinking WD logo / shutdown problem is as simple as mine.