Recent studies have failed to find a cure for hot flashes. However, according to HealthDay:
Other research has found that exercise has "no influence over the number of hot flashes, but it's shown that women cared less about having them."
So one could argue - in the same vein that a tree that has fallen in a lonely forest with no one around to hear it can be regarded as having made no sound - so too a hot flash that a woman doesn't care about can be regarded as neither flashy nor all that hot.
Cardiologist, Dr. Nieca Goldberg chalks up the effect to the "psychological benefits of exercise." Medical professionals have been telling us for years that exercise helps in relieving stress, anxiety and depression. For menopausal women, it appears that small amounts of exercise, like a daily walk, can help to make hot flashes more tolerable.
If you'd like more information regarding your menopausal symptoms, make an appointment with an ob/gyn in your area. If you'd like to read more musings about knowledge of the unobserved world, please visit this Wikipedia entry.