I just wanted to pop in here and say how I resolved this issue of a blinking BLTouch after replacing the pin. Apparently the new pin was not properly formed when cast. After hours of troubleshooting I took the BLTouch apart, removed the pin and sanded it lightly with 400 grit emery paper. I then put a very light coat of silicone lubricant on it and reassembled. After this it worked just fine.

I just wanted to pop in here and say how I resolved this issue of a blinking BLTouch after replacing the pin. Apparently the new pin was not properly formed when cast. After hours of troubleshooting I took the BLTouch apart, removed the pin and sanded it lightly with 400 grit emery paper. I then put a very light coat of silicone lubricant on it and reassembled. After this it worked just fine.