I was just driving home today and my overdrive off light began flashing, can't be good, but I have no idea what this means. Can anyone help me with this?

An O/D light flashing is basically a check engine light for the transmission. If you havn't noticed any difference in shifting, go and have the codes checked, that should give you more information about what's going on down there.

Have this checked right away. This ended up costing me a tranny rebuild. It can be something simple like a solenoide but have it checked. Mine was flasing (97 Eddie Bauer) and it was the OD drum gone bad. Whole tranny was rebuilt.