There is a bicycle equipped with a prototype and a video demonstration on view at the Hyperlinks exhibition in the Architecture and Design Department at the Art Institute. Not clear how well they work in daylight, but I already want one.

 

 

http://www.lightlanebike.com/

 

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way cool! thanks for posting...

hmmm... imagining that while leaning in on a turn at speed would shorten the boundary on the side the rider is turning towards. while at the same time extending the boundary on the side the rider is turning away from.

I don't really see much use for it during dayllight hours, but it would be really nice for nighttime use when cyclists are less visible. Especially for night rides out in the suburbs, where the streets aren't  lit up as brightly as Chicago. 
I vaguely remember seeing these on another thread. I think that they look cool. However there was some discussion on weather or not people in cars would be able to actually see the image projected. If you want it so your bike looks cool they are great but I wouldn't use it for safety reasons alone. That being said, I would totally buy one if the price is right.

I think some form of a damped pendulum would keep it steady and plumb.

I can't help but wonder if it can be modified to blind aggressive motorists. A little trigger device on the bar-end. . .
or.... one might get arrested for pointing a laser at an aircraft should they happen to go over their handlebars under the flight path of airline traffic.
they should make it so you could use it as a turn signal

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