Do you notice any change in reception when the lights are changing like that? If not, there isn't much hope.
I've seen the exact same thing several times in the past with Ministate antennas that have fried. One that I took down a few years ago at a farm had a slight gap in the underside of the antenna dome and had actually become infested with spider webs and other insect nests so it burned out!
Since then I advise everyone to caulk such seams before putting it up.