A flashing red and green light signal from an air traffic control tower to a moving vehicle on the flight line does not correspond to a standard aviation signal and cannot be accurately interpreted without further context.
A flashing red and green light signal from the air traffic control tower to a moving vehicle on the flight line is not a standard signal for road traffic, and thus cannot be directly related to typical road traffic signals or scenarios such as speed limits at intersections, pedestrian safety, or emergency situations involving bypassing red lights.
In an aviation context, a flashing red light means that the vehicle should alert as there is danger, and a flashing green light usually signals that the vehicle is cleared to move or cross the runway when no aircraft are present. Without an exact airport or aviation rulebook to reference, and given the inconsistency of this question with standard aviation signals, a definitive answer cannot be provided without speculation.