This will probably not work at least on half of the watches, but at least in my preview it works. In case the heart rate was not measured (is zero) it blinks with seconds.
(((sin((#DWE#*#ZHR#/60)*6.28)>0)+(#ZHR#==0)*((#Dsm#%1)>0.5))*80+20)
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This is what I’ve been using to flash the colon for the last 2 or 3 years. I’ve not gotten any complaints about it so it must be pretty close.
((floor(((#Dsm#)-(floor(#Dsm#))) * 2)) * 100)
I’ve added spaces before and after each * because the community pages tends to strip them out of expressions for some reason. Just remove the spaces and it should work fine. I normally use use two colons one layer above the other. The bottom layer is the color of time font. The upper is a darker version of the same color to make it appear to darken. It also will not show the dark version in the still preview of a publish watch face.
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This Thread is brilliant, I’ll definitely be learning a lot from here when I come back on the laptop, so thank you everyone for your contributions 
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Cool! Thank you!
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Thank you for this post, works fine for me.