I guess we're doing it. On Inland Waters a white strobe is a distress signal and is not permitted otherwise. Outside it has no specific meaning except when they can't see you. Then it's: "We can't see you." "Okay, (turning on strobe) can you see THIS?" "Yes, we see you now."
A yellow strobe is a submarine surfacing. Sometimes it feels like that in the GOF but we can't use a yellow strobe to signal it.