He talks it through in an excellent thorough and educational way.
Although this one might:
Not work at all
Need a noticable gap between operations
Need a small resistor in series with the push button to save its contacts from being eroded
There are a whole bunch of mono, bi and n-stables on this blog and they were mostly hyperlinked until some IT changes at EW disconnected them all. As I can't face putting all the links back in the right places, here is a list instead.
A 74HC74 hysteresis mystery
Two leds for one
Hysteresis mystery solved, probably
And now the pcb
Simple circuit selects LEDs? - a tri-stable
More push button bistables
A 74HC4060 monostable?
Thoughts on another EEVblog - a power on-off bistable