I can confirm that I have not had any eyewitness reports of this signal notably flickering, and I would have thought at least one person would have mentioned it to me by now, bearing in mind how many people I know who use the line (as well as myself, to a lesser extent). I will certainly keep an eye out for any reports. I have noticed some very minor, intermittent fading of lamps at other signals under the control of Reigate SB, but only when I have been right next to them - I've certainly seen nothing of note.
My first thought was that there was some reflected light from local buildings or parked cars which, combined with a dirty lens or dimmed bulb, could lead to the appearance of an outage. However, I have considered the layout of lineside trees and I think this is somewhat unlikely. Therefore, I'm interested to know what's causing the issue you've noticed, as I suspect there could be a combination of other weather conditions and some minor maintenance issue or other. But, as I say, I haven't heard a squeak about any issues from anyone else in the area. If they mention it, I will call NR, to add information to their record.
For the record of those who have posted but who are unsure, this section of line is served by DMUs running via the Dorking area between Reading & Redhill/Gatwick Airport. These services run from early morning until just after midnight, with variable peak-hour frequencies but an average of around 2tph (excluding lower Sunday frequencies); there are minimal numbers of freight trains and a few weekday RHTT paths. Heading Eastbound, the section of track has no operational points or junctions until the little-used engineers' sidings in the Betchworth area, and no signals in the immediate vicinity with flashing aspects.