I don't know what you mean by you want to see your button in action?
For the image thing, there are many ways to accomplish this. The best way would probably be using action script, but I honestly don't think you are ready for that, and I don't want to confuse you by giving you code snippets to try, at least without seeing your file to kow exactly what would be needed.
The other way is a bit easier, and is all in frame by frame animation.
The flashing:
Start with 2 new layers. name them "flashing" and "expanding"
In the flashing layer place your image in a keyframe, on the stage where you want it to appear. Move down a couple of frames on the layer and insert another keyframe. Frame 5 should be good. On frame 6 insert a BLANK keyframe. Move down to about frame 10 and insert another blank keyframe. Go back to frame 1 and click and hold on frame one, drag to frame 5 (this will highlight all 5 frames) right click on any of them and select "copy frames", then right click on frame 10 and select "paste frames". Go back to frame 10 and click and hold on frame 10, drag to frame 15 (this will highlight all 5 frames) right click on any of them and select "copy frames", then right click on frame 16 and select "paste frames".
These 20 frames will constitute two blinks. Continue for as many blinks as you want. End with a copy of frame 1, pasted at the end of your blinking.
To "expand":
Find the last frame in the "flashing" layer in which the image is visible (you should end with the image visible, not invisible) So using the above I will assume 2 blinks, last visible on frame 21.
Insert a keyframe on frame 21 of the "expanding" layer. Place your image on stage EXACTLY over the image on frame 21 of the "flashing" layer. So in essence therewill be 2 images there, but it will appear as one. Select the Free Transform Tool and click once on the image (in the "expanding" layer) make it as small as you want it too (or leave it if it is already the small size you want to begin with.) Right click on the frame in the "expanding layer" and select "create motion tween"
move down how ever many frames you want to take up making the image larger. If you run at 30 FPS every 30 frames will be just about one second. Assuming you want this to take 1 second to "grow" insert a keyframe on the "expanding" layer at frame 51. Again using the Free Transform Tool, select the image and make it as large as you want it.
Test your movie.
:D