Wing lights and Wing strobes are different lights:

Wing lights are installed on a fuselage. Added in 2.0
Wing strobes (white and red) are installed on wingtips. White strobes added in 2.0

How often they flash depends a lot on computer performance.
Anyways, it's not a bug.

I apologize.  I have not flown the Block F 2.0 at night yet.  In the day hours, you still cannot see the light on the fuselage actually come on with the switch pressed, but that is a very minor detail since you would not see any light cast due to the sun.  However, that is a cool night feature and I am glad you included this!  

The strobes have not changed, though, and I would think that could be fixed in a future update.  I will say that in the earliest Block B release, they flashed correctly.  However, there was not much (if any) wing flex in that model and I am a big fan of flexing wings.  The later models have all had the goofy strobes.  (Both FS9 and FSX.)

I also would like to add that I do not experience a lot of the issues that some people are stating.  I am overall pretty satisfied with the product.  I didn't like waiting 2 years for it, but at least I have a nice 757 now.  Congrats for being the first developer to provide a "thorough" 757 for the flight sim community!  Phoenix tried, but your model runs laps around theirs.  Yours looks great and flies good.  I was only bothered by the "brakes" message, but I disabled it in the FS9 cfg.  Problem solved.

Thanks,
Scott