The button that is blinking or flashing is on the far left hand side at the bottom for the individual track that I have selected for recording.
OK, thanks for explaining. I understand now. You're looking at the Inspector, which contains two channel strips, and at the bottom of the left channel strip is a record button. It's normal for that button to flash when this track is record-enabled.
The visual behavior is a little confusing, or inconsistent, because this is essentially the same record button that appears in the track header, but that one glows steady and this one flashes (along with the same button that appears in the Mixer).
Now, with the button blinking, we hear nothing until it is actually recording.
I don't think the blinking button is an issue. I think it's always been that way, and you just never noticed. But I think something did change in the way your monitoring is set up.
"Hear nothing until it is actually recording" would be normal if you have Autopunch turned on, but you say that's not turned on. So this is a puzzle. Here's something you can do. Find this file:
Macintosh HD/Users/YourUserName/Library/Preferences/com.apple.logic.pro.plist
Move it to the desktop. Quit Logic. Relaunch Logic. Logic will be set to Built-in Audio. Try recording that way (using your built-in Mac mic) and see what happens. Then switch to your audio interface and see what happens.
Also it might help to know more about your setup. What OS? What version of Logic? What model audio interface? And you are monitoring how? Speakers connected to the audio interface?