Conventional operations, horn and bell trigger

Yes, what you want is the Lionel 8633-10(new number 610-8633-010) Whistle Circuit Board.

When triggered with whistle button, will power up to a small DC can motor when wired as per OEM. Reverse the wires to the track, it will send out the DC with the bell button.

The Teledyne board here uses a horn/bell to trigger an electric coil knuckle. You could swap out the leads that go to the coil to an item of your choice.

http://www.electricrr.com/hobby.htm

So getting flashing ditch lites on just about anything isnt far off either, correct,  running conventionally that is, i know youd need a flashing circuit in there of course

As others have posted, most purchase-able boards seem to be set up to detect the Horn DC offset and then trigger a relay, triac, or similar relatively high-power load like an electro-coupler.  To your point, if just driving a low-power DC LED flashing circuit you'd think there would/could be a fairly simple circuit.  I assume you're looking for something off-the-shelf, but if you're a hard-core DIY'er, years ago I cobbled together this tiny conventional control ditch-light flasher triggered by the Horn as described in this OGR thread. 

Here's a video of it in action.  I don't think there's much interest as it involves tedious assembly of surface-mount components, but I've been meaning to write it up and I'll post the nitty-gritty on the O gauge archive blog.

That looks like a candidate for a OSH Park board, makes the assembly a bunch easier.