Pressing TAB toggle the focus between the Track List and the Timeline.
When the light is winking the focus is on the Track List, the left-hand part of the display where the track name, controls, etc are located. When the light is not winking the focus is on the Timeline, the right-hand part of the display where the events are located. (You'll see that when the focus is on the timeline the edit cursor winks, when the focus is on the Track List the light next to the track number of the current track winks.)
Try using the Up and Down cursor keys in each of these states and you'll see an example of how things behave differently between them. When the focus is on the Track List (light winking) using the Up and Down cursor keys moves the selection highlight to the track above or below the current track. When the focus is on the Timeline (edit cursor winking) using the Up and Down cursor eys zooms in or out on the timeline (horizontally).
Wow, thanks Mark, this program continues to amaze...been using it for 6 years and still uncovering new ways of streamlining the work flow -
Just the other day I discovered the joys of using the Shift key and other keys to select regions. Drop a marker in, go to the outpoint you want to render then Shift and Marker Number together and you have a mouse-free selection -
combo that with the Shuttle Pro and I've nearly thrown away the mouse!!