We're not big fans of blinking Christmas lights at our house. I think I grew up with "blinkers" of various types — large and small, colored and clear. But perhaps because of my wife's southern heritage and east-coast upbringing, we ended up with more simple and traditional decorations. We use only steady white lights on our simple tree, and I like it that way.
I suppose the blinking of Christmas lights is intended to simulate the flickering of a candle (used as decorations when my mother was a child in Germany), or maybe the twinkling of stars. Maybe it's just a gimmick to attract more attention. But this year, another analogy came to my mind.