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Rotating Satelittes are not usually inserted into programs unless they have some value. I have seen 2 flashing lights fading away as well. There is a fairly brief write-up on satelittes that launch all wrong and left in orbit spinning out of control. The reflective parts of the satelitte are what you see as it spins on an axis momentary catching the sun and reflecting it down to your view. They fade before they eventually get blocked by the earth from the sun.
They are usually left there unless they pose any danger to other satelitte. If so they are destroyed.
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