What does the white light on the sony ericsson xperia x10 mean?

I also got a white light after dropping my phone in water. It was pulsing green for a while. Then I (stupidly) pressed the power button after a few hours, and after working for a few seconds normally, went dim, than dark. I could still see some contrast on the screen, but there was no light coming from the screen. I shut the phone down. Now I see the notification light is flashing white.