This circuit has been designed to provide a clearly visible light, formed by 13 high efficiency flashing LEDs arranged in a pseudo-rotating order. Due to low voltage, low drain battery operation and small size, the device is suitable for mounting on bicycles as a back light, or to put on by jogger/walkers. IC1 is a CMos version of the 555 IC wired as an astable multivibrator generating a 50% duty-cycle square wave at about 4Hz frequency.
At 3V supply, 555 output (pin 3) sinking current operation is far better than sourcing, then LEDs D1-D6 are connected to the positive supply rail. In order to obtain an alternate flashing operation, a second 555 IC is provided, acting as a trigger plus inverter and driving LEDs D7-D12. D13 is permanently on. The LEDs are arranged in a two series display as shown below, with a center LED permanently on. This arrangement and the alternate flashing of the two series of LEDs provide a pseudo-rotating appearance.
circuit from http://www.extremecircuits.net/2010/01/bicycle-back-safety-light-circuit.html