What do the different indicator light colors mean on the CMCE040?

A red indicator light means the soldering iron is heating up, a green light means it has reached the selected temperature, and a flashing red light means the soldering iron is shutting down. Make sure the battery is fully charged if the indicator light does not fully illuminate. (Page 10)

From the official Craftsman CMCE040 Soldering Iron manual, page 10

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