I just got bit by this. The AirPort Extreme base station I set on my desk (temporarily) was causing the MX Revolution to flash a red battery light while sitting in the charging cradle; and it would not charge.
Unplugging the Airport base station (and, I assume, moving it) allows the mouse to charge just fine. Hopefully this will help future Googlers on this topic.
UPDATE: I think I spoke too soon. I’m still getting the red flashing battery, but it appears to be charging - at least somewhat. I’ve ordered a new mouse.
UPDATE #2: It appears “the mouse is defective”, however they won’t replace it since I bought it on eBay.
Dear Alex,
Thank you for contacting Logitech Online Support.
My name is Rosheni and I will be assisting you in your issue.
I understand that the MX Revolution will not charge. If this is not correct please let me know.
With regards to your issue, I would like you to ensure that the steps below are taken.
1. Please make sure the connection (gold) on the charger and the mouse is clean and they do a contact when the mouse is placed on the charger.
2. Please have the charger plugged in to different power outlet and check.
3. Please make sure that the AC connector is plugged into the power-outlet properly
If the problem persist, then the device is defective. Due to the reason that the mouse was purchased from ebay, it would not be covered under Warranty.
Thank you for using Logitech. Have a great day ahead, Alex

Rob G adds this Comment:
Are you moving away from Logitech now and to MS?
January 31st, 2008 at 5:03 pm
Alex adds this Comment:
I got the M$ mouse today. Huge dongle, but seems pretty nice so far. The scroll wheel has more resistance than I’d like. I’m going to give it a shot for a little while.
January 31st, 2008 at 5:08 pm
Alex adds this Comment:
Felt I should update this. While the M$ mouse feels great in the store, I didn’t like it in daily use and have returned it. The comments at Amazon to this effect are correct IMO. I’m not back to using the Kensington PilotMouse I used a few years ago. I’d given it up for “rechargability”, but the 15 minute charge Duracell rechargeable batteries have made it viable again.
February 9th, 2008 at 10:28 pm