Flashing red light on charger

Can anyone tell me what a flashing red light on the AA/AAA Smart charger means? I am guessing it means that particular battery might be overcharged? Thanks.

I believe that it happens where there is an error with charging the batteries. For me, this usually happened when batteries were stored discharged.

Charging error of some sort (it says on the back of the charger)

Generally, you can safely swap the battery into another bay without concern.