Yes, happened to mine.
The neutral switch that screws into the engine has a part that pushes in and out but over time the tip wears out(flattens) and stops being in proper contact.
If you unclip the wire connection, you can then hand thread a new neutral switch in that will rectify the flickering neutral light.
When you purchase the new neutral switch, compare the shape and length of the tip to the old one (which will be flattened out).
The longer you leave it, the more annoying it gets as the switch is less and less in contact.
Part number is 35600-KE8-003 same part for all years RC51/SP1.
Last edited by Mr Daytona; 04-12-2012 at 12:48 PM.