you still have to do cuttext for your blackins/blackouts, as GB said.
if you haven't looked in the comref yet, do it, it will answer a lot of your questions
you could also use titlecut
here's a little from a small cam scripting reference i made for myself to get started at cam scripting
titlecut ["caption", "effect", #]
# = time in seconds
effects are...
BLACK IN
BLACK OUT
WHITE IN
WHITE OUT
PLAIN
BOTTOM
leave "caption" as just ""
the time is how long it will take to go from black to normal or normal to black
so if you wanted it to constantly go back and forth, you would do:
titlecut ["","blackout",3]
titlecut ["","blackin",3]
titlecut ["","blackout, 3]
titlecut ["","blackin",3]
or however you want to do it