Hi,
I came here for the same problem, first try with a Z80 (One manufactured by Sharp) I made a test circuit seen it is a salvaged part. And A0 to A6 count properly but A7 to A15 flicker.
So I slowed the clock down to 3Hz and here is what I could see, if that's any useful information to anyone:
The upper address output blink in sync with REFSH (pin 28),
And I think (I can't confirm because it appears that I just fried my processor probing around and shorting REFSH to grounds,) in opposition with M1 (pin 27) and out of phase with MREQ (pin 19)
I actually can confirm, I just happened to move a probing wire around a pin at the moment the processor decided to bug because my 9v battery powering the board ran low.
And there is a bonus question. I accidently plugged a Z80 SIO chip in place of the processor in the test circuit.
The power pins are at different places on the two chips. How high are the chances I fried the SIO chip?