Whenever I remove a chip and re-insert it, if it doesn't work, it's usually me putting it wrong (wasn't paying close enough attention because I thought it was such a simple task), or I bent a pin (not enough lighting, and I didn't visually inspect each side to see that the pins are inside the guides).
So, maybe check your Denise again? Perhaps it's one of those two above...
Otherwise, lookee here:
http://www.amigahistory.co.uk/selftest.htmlAlso, last time I had my A500 flashing, it was 11 times (last one being longer) and I also had a green screen, which was due to a couple of fried RAM chips:
http://www.amiga.org/forums/showthread.php?t=20817Good luck!