PORST - PORESET_B is being asserted
FAIL - HW fault asserted, or SW has asserted a failure
M0 - LCS0 (boot chip select).
Blinking these leds means periodic reset assertion. I guess, the device tries to start up, tries to fetch boot code from boot device, and generates reset.
Guide is T1040QDS board Reference Manual, Section 2.54 "Monitoring LEDs"
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