I know things... A lot of things.
Join Date: Feb 2015
Motorcycle: GSXR 750 K4
Re: bike cutting out
Have a look at the condition of the sidestand switch as well. When you kick the stand is up, it should snap to a position that fully depresses the side stand switch and it should be kept firmly in that position. If it depresses the switch only partly, perhaps because the stand pivot is clogged with dirt and/or unlubricated, or because the spring has softened and/or deformed, a bump may well pull it further down opening the switch, causing the interlock to 'think' you're riding with the stand down, cutting power to the injection system.
Also, you might want to measure your system voltage (i.e. voltage at the battery with the engine running at 3-5k rpm). That variable blink rate is not normal, and might be caused by a higher than normal system voltage at higher engine speeds, which would be indicative of a regulator failure and should be addressed ASAP. Alternatively, it might be that one of the bulbs fails intermittently, causing the other to blink faster.