There are so many good reasons to have blinking lights on, the least of which is that they are a legal requirement.

The NHTSA just released a nationwide study of bicycle related fatalities. They favor a more balanced approach that includes both helmets and lights.
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All bicyclists should wear properly fitted bicycle helmets every time they ride. A helmet is the single most effective way to prevent head injury resulting from a bicycle crash.

Bicyclists are considered vehicle operators; they are required to obey the same rules of the road as other vehicle operators, including obeying traffic signs, signals, and lane markings. When cycling in the street, cyclists must ride in the same direction as traffic.
…
Bicyclists should increase their visibility to drivers by wearing fluorescent or brightly colored clothing during the day, dawn, and dusk. To be noticed when riding at night, use a front light and a red reflector or flashing rear light, and use retro-reflective tape or markings on equipment or clothing.
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They also talk about the responsibilities of drivers in keeping cyclists safe but it’s a shared responsibility.

http://media.tbo.com/tbo/pdfs/042909bicyclists.PDF“

Things were gravy when I had my front wheel traction-generator light from Japan. Then, I made the awful mistake of parkign my bike overnight on the main street in San Francisco. The crimanimals took that light, my seat, and my seat POST. (22mm, hard to find)

But thanks to Waterside bike works in Berkeley/Albany, I had my “happy ending.” Three free posts! No store had them for sale. (old made-in-Dayton huffy bike.)

I think these bicycle light advancements are WAY MORE IMPORTANT to bicyclist safety then any helmet.

By your command:

http://www.instructables.com/id/Cylon_Bike_Scanner/

I definitely appreciate a bus driver who cares about the well being of cyclists, and is a fan of science fiction.