That variable doc says "If non-nil, show parens when point is just
inside one.", so when point is right by the paren.
Thanks for the explanation.
Anyway, I think it would make sense to add what you're requesting -- but
I'm not sure it would be efficient, or that it's well-defined. For
instance, if you're in text-mode and the text is
{(foo|bar})
what should it be blinking?
I didn't know how to answer, so I looked how other editors do. I found two behaviors:
1. Unless the point is right by the parens, it should highlight the curly braces. So in this case it would highlight the curly braces.
With the point in these places would highlight the parens, otherwise would highlight the curly braces:
{|(|foobar}|)|
2. Ignore and don't highlight anything.