You probably didn't set it up "all wrong", but you probably just left the bulb (the device) at default values.
If you go to the devices page and click on the name of the device, you will be taken to the device settings page... You then scroll down to the "Preferences" section where you will find a setting for "Transition speed"... The default is fast, which does a fast dim on/dim off... The setting you desire is "Instant"... Select it, then click on save... The bulb will then do instant on/instant off.
The Aeon/Aeotec bulbs are rather unique... They do have a "blink" mode and a color cycle mode... which would be ideal for your desired functions... Unfortunately, these modes are programmed by setting Z-Wave parameters on the bulb, so using these modes are not possible unless there is driver support for the functions.
Fortunately, the stock Aeon/Aeotech have limited support for blinking/flashing using the setEffect command which you can issue from Rule Machine... The discussion of "flash" capable devices is HERE and the description of the setEffect function for the Aeon bulbs is HERE.
There is also a relatively new plugin that could be of use, called "The Flasher"... available HERE.
You can find a simple Rule Machine rule HERE, and if you use the search icon (magnifying glass) in the upper right corner of the page and enter "flash"... You will find many more threads that will help you.
