Feel free to go here. There is a description of the 45 minute flashing process that updates the software in the eMMC…
http://circuitco.com/support/index.php?title=Updating_The_Software
This SW is not Ubuntu. It is Angstrom.
Gerald
What you describe as to the LED action is correct. Your last statement told me you started the re-flashing, again. Not sure why, but you need to let that finish.
As to the display, we can work on that once you get it flashed again. Re-flashing is not something that is conducive to figuring out the display issue. Once it has flashed, go here:
http://circuitco.com/support/index.php?title=BeagleBoneBlack_HDMI
Gerald