Strobe Light is exactly as it sounds: a strobe light. For that reason alone, this review will be very simple. Turn on the app and it starts to flash. Not so rapidly as to give you a headache and not so slowly as to attract the attention of a nearby emergency vehicle, but as you would expect from a strobe light for a party or concert. That alone is a nice feature; it works well on both the iPad and iPhone and it doesn't drain your battery quite as rapidly as some flashlight apps that have strobe functions.
That said, the app is severely lacking in features or functions that go beyond the basic flashing. Combined with the $0.99 price point and the "more" menu that is essentially one giant ad for the services of the company that made the app, you have a limited app. Features that would have improved the overall experience include variations on speed and color of the strobe (within safe limits), a pause button so you can stop the strobe without turning off the app, and additional options like a solid light only.
All that said, if you are looking for a very simple strobe light for your iPad that won't drain the battery in 20 minutes, this may be it. It is not free and it has a number of limitations, but it does the one thing it promises to do well, and that's all you can ask for from an app like this.