I have been thinking about this for quite a while now and just came across this video.
While I am glad we are doing away with mechanical assemblies I think we have much more work to do as far as synchronizing traffic lights. I envision the future to have a more open system where people can participate in the timing of the traffic lights. A system that minimizes waiting time. If Google were in charge it would turn green as soon as the last perpendicular car crossed. It would have GPS, motion sensing, and infrared technology all perfectly coordinated so we would have a traffic light system that was as efficient as our computers.
Welcome the traffic light 2.0 system as it makes its grand entrance over the next 10 years! I can't wait!