first question. what if you have missed a call, and got an im for example..

could it blink green and red through each other for example? red, off, green, off, red, off etc

furthermore, could someone post a '1-post guide' for an entire n00b with all the steps to change the led notification for calls/ims/sms/emails ? i know i actually should try to figure it all out by myself instead of asking someone this.. but.. asking wont hurt anyone i hope