Thanks for your response, all I see is what looks like a bit of solder for the chip on the reverse side. Nothing that could be physically manipulated, as far as I can see. I don't have the best vision, but I would think a button wouldn't be so hard to find. There's just nothing there but the sd case, that bit of solder, and the USB connector. As for the SD card, it's fine, I have no trouble modifying the files with it in an adaptor hooked into my laptop.
I can't find anything about a brief red flash, from what I can tell the LED should at least be either a solid red or green or blinking in some pattern. So the quick flash makes me think I should begin the returns process... still, I'm mystified that there's supposed to be a button. I wonder if I received an older model or something?