Electronic Speed Controls (ESC) that are "blinky legal" are actually sent to a sanctioning body that test them to meet "blinky rules". The sanctioning body test the ESC's, and has them listed on a "Blinky ESC List" of sorts for events to review and use as needed.
Blinky is 0 timing advance from the ESC. So if any Boost or Turbo settings are set to 0, it's the "same", as 0 timing, or Blinky.
This also applies to ESC's that have "Softening". Softening must be disabled/set to 0 for Blinky to work.
As a manufacture involved in sanction racing, we cannot in good faith, offer ESC's that "blink" but are not "Race legal through the sanctioning body".
Blinky ESCs are not made to be the same speed, only to "not allow timing advance electronically from the ESC" so to speak.
Also, Blinky racing, is for Sensor based ESCs that are used for sanctioned style spec class racing.
Some tracks require "Blinky" mode ESC's, but do not actually use any sanctioning rules or guides beyond that. It can be very confusing to say the least. Overall though, the simple situation, 0 "electronic timing advance from the ESC", is what Blinky mode is. No "ESC Magic" to make the motor faster. This does not apply to "motor timing" from the motor endbell.
Quicrun, and Max series ESS's are "not" submitted to sanctioning bodies for Blinky Approvals, but can be set to 0 timing.
Electronic timing, is referring to "Turbo", or "Boost" settings from the ESC.