Oh ok, I thought this trick was for something else, due to the blue LED in the picture. Ok, so I applied a rubber band to hold down Vol- and plugged it in while the Flashtool is waiting for a device in flashmode. The LED was still red. We will see what happens next, it's time to wait again.
Edit: After 5 minutes Flashtool said
"Device connected with USB debugging off
For 2011 devices line, be sure you are not in MTP mode"
and the phone's LED was switched off.
Edit: 50 minutes later the red LED was glowing again and Flashtool said "Device disconnected"
@Mirhawk: Is this still ok? Or should i have kept it charging on the wall charger until the red LED disappeared again before I started rubber-banding? Or should I connect it to the Flashtool fastboot mode and rubber-band it to vol+?
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