I want to use flashing / fading as transitions between menus, game overs, stores... Something like the one used in Ninja Dive by Aaro Arts (Nice game by the way)
Add a white image that cover the entire screen, in all the UIs. Put it in front of all the components. Set its opacity to 0. In the Open & Close fields of the Event Animation UI editor, just make an animation that changes the opacity of the white image, and you got your flash effect transition.