Blinking in text mode is trivial because it's just a bit in the video buffer. But graphic modes (to my knowledge) have no such feature, so it must be done in software.
So it is simply too much trouble to implement for such little gain, especially when there are other options to make the text stand out available in video modes.
It will stay this way for the foreseeable future, since I have other priorities, sorry. However, I'm open to enlightenment, if you want to elaborate on the importance of this.
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