On my previous Mondeo TDCI, I had a similar issue with the glowplug light flashing plus loss of power. Unfortunately for me an injector had failed which meant a bill of £250 for a new injector fitting. Do you have excessive white smoke from the exhaust?. If so, then i would suggest you get the injectors tested. Also, when an injector fails, the car reverts to "limp-home" mode which manifests itself as the glowplug/coil looking light (as you describe) flashing. This makes the engine difficult to start, much reduced acceleration and performance. If i were you, Id get a diagnostic check done asap. Best of luck.
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