No, I didn't make that idea into reality. I was thinking of getting a small digital camera at the time and what I actually got was Olympus C8080 which is pretty chunky and heavy.

I still think the idea would work as long as the weight of the camera is not more than the Micro Halogen light, which you can find plenty of them these day. But in order to use it on your bike, either you have to have very fast camera or anti-shake camera(in a small camera body) to minimize the camera shake.

If you haven't bought the camera, many models of Panasonic P&S camera(with image stabilizer feature) should be considered for reducing the shake.

If your bike has suspension like mountain bike, that would help reduce the vibration too. That of course, if you are planning to take shots on the run.

Because I have never tried it in real world, I don't know how bad the vibration affects the photo.