Hi,
In the MIDI editor > Musical Notation > Channel dropdown menu (bottom right), the currently selected channel has a blue background (selected) when the dropdown menu is opened. And then the blue background changes, with a mouseover event.
When the Channel dropdown menu is over the musical notation, there is a rendering issue.
The blue background alternates between the mouseover channel and the currently selected channel.
The other dropdown menus are not affected by this bug.
The issue is clearly linked to the Musical notation frame. When you activate Track List, the track list appears on the right part of the Midi window, the channel selection menu is then over the track list and the blinking phenomenon isn't appearing.
In this example, my mouse is over Channel 8. In the first case, channel 8 is blue, in the second case it blinks between channel 8 and 16 (the currently selected channel)
https://i.imgur.com/HuzeDAw.png
OS and reaper versions
Windows 10 64bits
Reaper 5.40 64bits