Hm, I don’t know about the Sacred Heart, but as for the Immaculate Heart of Mary, the flames symbolise passion, the knife pain, the five roses each a virtue, and I forget about the blood.
“We meditate on the crown of thorns not only around the head of Jesus, but also around His Sacred Heart, for it is there that He suffers more now than He did during His entire Passion. The thorns around His Heart symbolize the pain He endures due to the ingratitude of the world toward His love in the Eucharist – Behold this Heart which has loved so much and yet which is so little loved in return.” From Come to Me in the Blessed Sacrament
DISCLAIMER: Catholic Answers has turned over the archive to Catholic-Questions.org and no longer owns, manages, or moderates the forums. For additional apologetics resources please visit www.catholic.com.