Sorry for not being clear. The bike will be very rideable; it just won't be the bike I'd do a cross-country ride on. It will be a single speed (not fixie) with front and probably rear brakes (if only for handlebar symmetry). The lights will be programmed with different modes, and at least one mode will be a safety mode in which the lights function to make night riding safer like normal bike lights. Maybe I'll have strobes and nav lights like an airplane.

F***; I don't even know what this concept is going to be like when I'm done. I'm only now working on the proof of concepts now to see if I can get these LED's to behave properly. Between posts I've been working just to see how ONE RGB LED will look hooked up to potentiometers to adjust the color output, so it's gonna be awhile before this thing comes together.