Hi,
I just tested a FiPy running the latest firmware with the following code:
import pycom
import time
pycom.heartbeat(False)
for blink in range(5):
pycom.rgbled(0xff0000)
time.sleep(0.25)
pycom.rgbled(0x000000)
time.sleep(0.25)
And it successfully blinks the on-board LED red. Have you tried to update your FiPy to the latest firmware?