Also, you will have to do careful control studies to find out if the lights are actually doing any good. I don't even know how you'd do this. The only way I can think of is to chase down cars that were behind you when you were indicating and ask them if they knew what the funny lights meant. You can't just put LEDs on the back of your bike, use them for a few days and say "Well, I didn't get killed so clearly they work."
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Work: the 8 hours that separates bike rides.