When i push the button down to turn it on the LED comes on green for a couple seconds then red for a couple seconds then powers off. Can't find this cenario in the trouble shooting on the traxxas web site. Why won't the ESC stay on???????????

Is your a v2 with the wires comming out of the esc with female bullets at the end of the wires? If so move the battery wires and see if that is the problem. My buddies did that and it was his negative wire broke free inside the esc and when I went to repair his the v2 is something that can not be fixed by yourself. They completly sealed the board and it will not come out of the esc case.

If it is the v1 that has the female bullets in the esc and you plug your motor into it then you can service it yourself very easily. These boards are not coated and pop right out for service repair.

Other then a bad connection I dont understand what else could cause that to happen.

could be a stuck power button too, that's what happened to mine i was told to put some oil on it by traxxas but pull it out first with needle nose pliers fixed it right up!