As always, power source is what drives blinkie design. A single lithium cell worked well for the 2011 design, but 3 volts won't cut it for blue or yellow LEDs, too much forward voltage drop.
Today I've been thinking that a single AAA cell into a 5 volt boost power supply might be doable. I priced out the parts and the with battery holder it comes to about $1.50. The downside is that it's mostly surface mount parts; the boost regulator is only really available in SMT, and most parts are way cheaper in SMT (the exception being the inductor, which is way more expensive in SMT, but an axial inductor could easily be surface mounted manually by just bending the leads down.
But then it turns out that 1-5 volt to 5 volt circuit boards with a USB socket soldered on cost < $4 shipped from China. Simply removing the USB socket then soldering it to the board as a sub-assembly would eliminate sourcing all those parts and more importantly would eliminate that surface mount soldering. It might be the way to go.
A single AAA alkaline cell contains about 1.5 watt hours of power; the CR2032 I used last year has about 0.675 or less than half that power. There is some inefficiency involved in the boost converter of course, but it's still a good deal, and AAA alkalines in 100 packs are cheap, 15 cents each or so.
( G+ comments below the cut )