A link to a manual that should help, see page 51 for output wiring info:
http://data.manualslib.com/pdf2/35/...?0a91f2774c83e57f9b43e0f0517fb290&take=binary
Edit:
In the event you are using a 20 I/O unit, the answer to question 1 is yes if you do not have an expansion unit. "Q" addresses are for the base unit, "Y" addresses are for the expansion units.
With regard to question 2, the two outputs are 2 independent N.O. relays with one side of each relay connected to a common terminal that in turn connects to one side of the power source for your flashing lights.