If, on approach, I see an aircraft at the holding point with strobe lights ON, I have only one reaction - Go Around!
I have often been given an "After the landing XX line up and wait behind" clearance at busy airports, mostly during tight take-off/landing sequencing. This will trigger the line-up checklist and item 3 is "Anti coll - white". I have therefore been at the hold with white flashing and no-one's gone around on me yet. Is it only a matter of time?