Having the same issue but now the car has a mind of its own and has the 4low randomly blink when I am driving. Not sure why it is doing that. I am also having trouble getting out of 4hi, it will shift into 4hi fine then when i press 2hi, it won't even blink or anything.Then after a few minutes of screwing with it, it will finally go back into 2hi. But soon after, 4low will start to blink. If anyone knows what is going on please let me know.

 

3 button or 4 button switch on the dash?

 

4 button, went to chevy today, they diagnosed that it was the 4x4 computer that was making it not come out of 4hi, and replaced it. After the service tech installed the computer, he took it for test drive and the lights started blinking again. He ran some codes and determined that the buttons were malfunctioning and ordered me a new one. Gonna pick it up tomorrow.

 

so is your new computer free?

 

I;m sure it is...those dealers are such swell guys...lol