Symptoms: Nook will not charge - light is green, then orange, then blinking orange and then 'off' or 'black' - nothing.
Attempts to Solve: Changed Cables. Pressed buttons for reset. Attempted to remove back cover (DO NOT ATTEMPT - any references to removing cover apply to earlier versions of the nook and attempting to do so will void the warranty)
Solution: Took into a BN Store. Support advised them to plug-in (like I hadn't done this), then to my embarrassment, it lit up and charged as hoped for. It was the ADAPTER I was using - while the cables were in working order, the adapter I was using was not the Nook adapter (plug in) and therefore, not providing the correct amps (more than a cellphone USB adapter) to boot the battery from a 'dead' environment.
1) DO NOT LET YOUR NOOK'S BATTERY DEPLETE TO NOTHING (this was an advisement that I missed in the quick-start guidebook and at time of purchasing) and the root cause of the problem.
2) Adapters/Plugs provide different amounts of amp needed to power up hardware - so use the one that was provided with your Nook if your battery isn't charging and you're attempting with a different plug-in.
I am having the exact same problem that you describe, except I am using the connector provided with the HD+ Color Nook. I always keep it plugged in when I am at home. Last night I received a "criticle warning" that the Nook was rapidly losing power. It dropped down to nothing. When I plug it in to a different outlet, it goes through the same pattern (of lights) that you describe and then blacks out.
This Nook was new in January 2013 and now it won't work at all!