To be the devil's advocate
Blinking says "You strike as an invisible creature (with a +2 bonus on attack rolls), denying your target any Dexterity bonus to AC."
and it goes on to explain that during the "blink" period, you are an ethereal creature.
"Since you spend about half your time on the Ethereal Plane, you can see and even attack ethereal creatures. You interact with ethereal creatures roughly the same way you interact with material ones.
An ethereal creature is invisible, incorporeal, and capable of moving in any direction, even up or down. As an incorporeal creature, you can move through solid objects, including living creatures.
An ethereal creature can see and hear the Material Plane, but everything looks gray and insubstantial. Sight and hearing on the Material Plane are limited to 60 feet.
Force effects and abjurations affect you normally. Their effects extend onto the Ethereal Plane from the Material Plane, but not vice versa. An ethereal creature can’t attack material creatures, and spells you cast while ethereal affect only other ethereal things. Certain material creatures or objects have attacks or effects that work on the Ethereal Plane. Treat other ethereal creatures and objects as material."
True Seeing says: "Further, the subject can focus its vision to see into the Ethereal Plane (but not into extradimensional spaces)."
True seeing does not normally see into the ethereal, unless the user changes his vision as stated. Unfortunately, it does not mention what kind of action it is, but it does make it clear you can't see normally and ethereally at the same time.
See Invisibility says: "You can see any objects or beings that are invisible within your range of vision, as well as any that are ethereal, as if they were normally visible."
Since the Blink-invisibility is due to the temporary etherealness of the creature, it would seem clear that See Invisibility does negate it and has a distinct advantage over True Seeing in this case.
Any thoughts on this rather odd issue?