Many BlackBerry users turn all the alerts off their devices during meetings or at clients and need a simple way to see if they need to check their device. There are a couple of apps that perform a similar function but IdentifyMe is the latest that lets you set up to 9 contacts that will have a custom LED color blinking when they call. Pretty useful if you just have your device lying on your desk.
The asking price for the application is $3.99 which is a bit high but hopefully they will put it on sale soon. Let us know if you give it a spin!