Most external balancers will operate in standalone or charger thru modes. You get a better charge in charge thru mode - balancer connects to the charger and lipo connects to balancer, both power leads and balance leads. This is an example of this kind of balancer -

http://www.allerc.com/product_info.p...oducts_id=2916


Blinky is diff in that it just goes directly in the balance connection of teh lipo. It will work in either mode. Its a little delicate - have to take care with the wires where it plugs in, other than that precaustion, it does a good job. Prob cheapest option available.