Try to make a blink text border in the photoshop, this example has a easy way to make it perfectly.
New File: Take a new document with black background as I have.
Write Text: Choose Horizontal type tool (T key) and make formatting to write text as here.
Effect: Go to Layer menu > Layer style >Apply stroke.
Make duplicate layer and give "stroke" effect as given up but change color "7dfc55".
Make duplicate layer and give "stroke" effect as given up but change color "f5f83a".
Image ready: Go to image ready to make animation, adjust the layer by the frame in the animation window one by one as I have done here.
Save: Now save file "Save Optimized".
Recommend the tutorial