I feel pretty good about where this project is now but might revisit it sometime when I have access to a proper o-scope. Since I believe this is a novel 555 circuit using both the flicker LEDs and Hall effect components I'd like to know exactly what's happening. I've posted my theory in the comments.
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I've put this project on my todo list and bought some flickering LEDs :)
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Nice! Looking forward to seeing how it turns out for you or evolves from here.
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