SO saddly while resucing a boat, I jumped into a river with My *sniff* Special Edition Pokemon DP DS, It of course became 100% Water logged (thank god the carterige was OK)
I turned it on After it dried for about 3 hours and The power light was randomly flashing yellow, I looked it up and only found one other cases of this happening, but it was unknown what it mean't.
Has this happened to anyone else?

(PS the DS maybe under warrenty)

That's weird, was it blinking and flashing randomly, or slowly and constant like when it's on and you close it?
I think it might mean it might be internally damaged.

Ah this happened to my younger brother. It's nothing too serious but, you'll have to wait awhile for it to not be water logged.

When this happened to my brother his would just randomly shut off, but that stopped.

It is possible that the water has caused some of the circuting to short, and that would explain why your light does that.

If you can (and remember, this will void your warranty) open it up, try to dry it completely, making sure there is no sign of water or any stains. If you have a full coverage warranty on it, I'd suggest you get ahold of nintendo and get a new one.

If you only have a warranty that covers just the faults of the DS itself, you may have an expensive paper weight on your hands now

At least you learned a valuable life lesson though. Don't be near open bodies of water with Electronics in your pocket under any circumstances. Freak accidents happen, and simply getting splashed at random is enough to kill your expensive gadgets.