Yes, you can. Go to settings> System → Notification indicator → check user values.
Then you get the + / plus button. At the bottom of the screen.
You can choose an application for which you do not want the notification backlight to blink :)
And select a custom color for this app, which is selected in black
No more blinking;)
I tried on 4.2.2 working
here is a screenshot of http://www.mediafire.com/?lk9ba5f0tkdb1vq
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