Welcome to the community and thanks for posting. Sorry to hear the activation of your new Hub 3.0 hasn't gone as smoothly as you'd have liked.
The Internet light flashing green means it's trying to lock onto our network, the red light means it has failed so it'll try again. The base LED should eventually go white and the Internet light should disappear. You'll also be able to check out what the lights mean on the Hub 3.0 by following the link I've included.
I've not been able to locate your account to check this further so I'm hoping everything is fine your end. I'm afraid the sequence does take a few minutes to complete as it'll also download the latest firmware version too.
Hope this helps. Please let me know if you need anything else.
I am facing the exact same problem reported in this thread. Got my new VirginMedia hub3.0 yesterday. Couldn't find a separate Virgin Media box at home but found a coxial cable end with black ring coming directly inside the house. Apart from this there was a box with had 2 ports for coaxial cable with name SAT1 and SAT2 above another 2 ports named TV and Radio. I tried connecting the direct cable to virgin media hub 3.0 and can see the base led flashing green and alternately the internet light also flashing green. When the internet light flashes green, base led light stays steady at green. Once internet light disappears base led starts flashing again. I am stuck now with no clue what else I can try and resolve this myself. Engineer visit has been arranged for Tuesday, but that is too long and I am badly getting affected by this no internet issue. Tried connecting the red end coaxial cable on SAT1 and SAT2 connecting the black end to hub3.0. In that case internet led never flashes but base led keeps flashing green. Any help that you can provide so that I can fix the issue myself without waiting for engineer visit.
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Can you advise approximately how long the lights will flash and for the Internet to connect? Received the 3.0 today and I've been having the same issues as the original poster, it's been well over an hour now.