It will be a matter of rule/law interpretation by the person on the day inspecting.
I looked up the writings in the Australian Vehicle Standards Rules in relation to having red rear indicators (which states they can be yellow or red for vehicles built prior to July 1973) in case a traffic officer was not quite well versed in the rulings.
The part of the vehicle standards that you may have trouble with is Part 8, Div 11, Rule 104, section (1)(d):
"flash at the same time and rate as any other direction indicator lights on the same side of the vehicle"
So I guess it could be argued by a real anal inspector that sequential don't flash the same as the front indicators (since there's only one light at the front, instead of the 3 panels at the back).
Earlier in that section it talks about the minimum flash rate being 60, with a maximum of 120. Would the new flasher module with the sequential change, ie slow, the flash rate of the front indicators? I don't know much about the actual components of these indicators.
In my opinion this will be another one of those things where you get one answer from someone, and the complete opposite from someone else. :[
