That does sound like an issue with the safety sensors, since they would return the door to the open position and flash the lights if sensing an issue. And the safety sensor system can be over-ridden if you hold the wall button continuously.
If you check page 23 of your owner's manual it notes that the two white wires should connect to terminal 2 and the 2 black/white should go to terminal 3. When the wiring is hooked correctly you will see an LED lit on one of the door sensors mounted on either side of the garage door near the floor. The LED indicates power is reaching the sensor, the other sensor LED will light when the two sensors eyes are aligned so they can "see" each other.
If the sensors do not "see" each other for any reason the door will reverse when you try to close it and the lights will flash. That might mean your wiring is damaged or hooked up incorrect, but it could also be something as simple as misalignment of the sensor eyes or something blocking a sensor or even sunlight hitting directly on a sensor eye.
You can view your owner's manual online at Manage My Home using the model number and the instructions in the link below. There is detailed information and illustrations in the manual and the additional links below also have information that should help.