From all I know it denotes a second....before the practise of scraping off the flower on the stamp of seconds.
Linda c

I found this quote from "Lladro's The Magic World of Porcelain" book quotes on page 278 ..."And we say marks in the plural since a variety of different ones are used all of which, needless to say, have the same validity. Even when, as in the case of one of these marks - prior to 1974 - a spelling mistake slips in to be preserved, perhaps forever, on a delicate feminine figure or on the agile body of an animal. These orthographical errors not only do not lessen the value or the worth of the figure but, on the contrary, give it a new dimension as a rarity much sought after by those collectors who have a love of the unusual .
What do you think?

As I said....it is my understanding that an early method to denote seconds to be sold at the warehouse were double stamped. I can't see the mark on your piece well enough to ID the time frame.

based on http://www.theprudentcollector.com/lladro_marks.html it is dated 1971-1974, it does not have the accent over the 'o' or trademark sign that followed after 1974.

I believe that was the first blue mark used? Frankly I don't know....all I remember was when I went to Spain I was warned to watch out for double stamped lladros and those without the bell flower....as those were factory seconds and often found in roadside stalls and on Las Ramblas in shops.
And I can find documentation for that same thing on the web but no pictures of the mark as it was double stamped.