this happened to me once, not sure if it relates to you.
old notification or old alarm.
I used memmiad to clean out the old and dup notifications. softrest.
I agree that it might be a glitch with the Alarm. When an Alarm goes off on the Axim, if you have it set to blink the power light until the notification is dismissed it will do so. Periodically, I have alarm issues on my Ax, and when I do there are blank and duplicate alarms set in the notification cue. Clearing them out of the Notification cue using a program like MemAid as the previous post suggests, always fixes my alarm problems.