No. It would be just as easy and quicker to run the red. By the time you make this manuver the light is likely to change. That midblock U-Turn seems just as unsafe as running the light, drivers sure aren't looking for you to do either but at least they are somewhat alert at intersections.

I commute in Washington DC. Traffic is awful but bikes pretty much get away with anything. So do I with the exceptions of riding the wrong way or on sidewalks.