In the following example code both functions get called once a second. Is this along the lines of what you're trying to do?
	Code:
	import viz
import vizact
viz.go()
def Blink_Detection():
	print 'inside blink detection'
	
def Region_of_Interest():
	print 'inside region of interest'
	
vizact.ontimer(1,Blink_Detection)
vizact.ontimer(1,Region_of_Interest)