Sure, if you pulse the display briefly once per second it will be visible once per second and you'll poentially save 90% of the power. But it won't appear to be on continuously, you'll see a highly irritating blinking display with an apparent ~10% duty cycle (regardless of how short the actual pulse is).
In order to appear to be on continously, the minimum frequency is perhaps 40Hz and if the display is moving relative to the viewer's eyes (vibration or other motion) maybe 10x that or it will appear to 'break up'. The peripheral vision is faster-responding than the center of vision (probably from evolutionary developments- fast-moving objects in the peripheral vision can represent a hazard) so pulsating light can be annoying even when (especially when) you're not looking at it directly and when it appears to be more-or-less steady when viewed directly.
--sp