I have the "flash continuously" box checked off but the red LED doesn't seem to flash continuously for unread messages once he screen goes to sleep. If I press the pwr button to wake up the device the the LED starts flashing again but that defeats the purpose.
Also, any way to get different notification tones for different events lie SMS vs Email vs Calendar?
Inside each of those applications they have a settings option when you press the menu key. Make a notifications folder in your storage card's root folder (not inside another folder), and drop sounds into it to make them appear as notifications options.