This circuit uses a 555 timer and a counter/display chip in order to create the illusion of 8 randomly flashing LEDs.
In reality, the sequence is not totally random however, because it's actually the sequence that would occur when the counter chip is powering an LED display unit i.e. when it's counting.
That can be forgiven however, because they circuit is extremely simply to build, with only 5 components (plus the LEDs). There are 2 resistors, one capacitors, 2 chips (555 timer plus a 4060 [i think - though it also says 4026]), and then the 8 LEDs.
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