More than likely a replacement hub will not resolve your problem, the lights you are getting means that the hub cannot connect to the virginmedia network.
Can you go around and make sure that all coaxial connections to all the VM equipment are finger tight the best was to do this is too loosen the connection and then re-tighten, once that is done power off hub for 30 secs and then back on, the light should stabilize in about 5 mins.
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