The emit slider makes materials emit light in that they glow in the dark, but the light they emit doesn’t light up anything else. I think it does if you turn on radiosity rendering, but I’ve never got on well with it. You could try simulating the flickering by making another particle system on top of the first, and have it emit lights - just a few of them, not as many as the original particles. I’ve tried this before and it works OK if you use area lights (or sphere lights from svn), otherwise with point lights you get multiple shadows for everything and it looks messy.