Hi Ann Margareth:
1 uF at 15 or 25 volts is a very common capacitor value that you should be able to find at Radio Shack, any electronic supply store, electronic surplus store, Digikey, Mouser, or on scrap circuit boards. But you can also substitute with little difficulty.
No identification is shown for IC1, but it looks like a classic 555 timer application.
The capacitor on pin 7 of IC1 is part of the time constant setting circuit that determines the on and off times of the output to the LED. I don't know what the capacitor and resistor values are, but you can calculate the design duty cycle and period by reference to the 555 spec sheet. Google "555" and you will find many tutorials showing how to calculate period and duty cycle for the recommended components. If you don't stray too far from the 1 uF design value you can compensate for a different value of capacitor by selecting different values of resistors in the string. Thus, if you use a 0.5 uF capacitor at IC1, double the values of the two resistors above it in the schematic.
The second capacitor is not at all critical, as it is only setting a response time for the LED drivers. A larger capacitor here will make the LEDs slower to respond to the input pulses and conversely. I'd bet that you could vary the value of the second capacitor by +/- 50% without noticing any change in performance. I wouldn't try to compensate for any modest changes in the value of the second capacitor. The value of this capacitor does not have to match the value of the capacitor at IC1, since it does not have any "tuning" or frequency determining function.
Have fun
awright