Airport Express and WNDR3700 - Need Help

[rgphotoman]

I just purchased an Airport Express and cannot get anything the status indicator to flash anything other than a yellow. I am working on a Win 7 64 bit platform and my router is Netgear N600 (model WNDR3700). The only changes I made to the router is via its utility to enter the Airport ID MAC address into the Netgears "Wireless Acces List". I deperately need input on what I might be doing wrong or need to do to my router's setup. Below are what I have tried and status info:
What I have tried:
1) Entered the AIrport's MAC address into my Netgear Router's "Wireless Access List", as well as the Ether ID (out of desperation).
2) Installed on my PC the latest version of the Airport Utility (5.5.3).
3) Plugged the Airport directly in port 4 of my Netgeat Router.
4) Changed ethernet cables.
5) Reset the Airport.
6) Rebooted the Netgear and my PC.
7) Plugged the ethernet cable from the modem directly into the Airport.
Info:
1) When the Airport is first turned on (ethernet is already plugged in), the status light turns solid greem, then goes to solid yellow for a bit, and then immediately goes to flashing yellow (approx 2 seconds between flashes) and stays that way.
2) then If I run my Advanced IP Scanner if shows the Airport, an IP of 192.168.1.20, the Airport's ethernet MAC address. The status shows "Ok".
3) If I unplug the Airport and click rescan on the IP Scanner the device remains present but the status is changed to "Dead".
Despite what I tried I get only get the yellow flashing light? Do I have a bad Airport Express or is this a failure on my part to properly set up the Netgear? Thanks in advance for any help offered.