Dude, short of zapping people with a green laser, it's still gonna happen. Hell, a bright yellow helmet, a hurt my eyes yellow jacket, and a "no more Mr. Niceguy" HID doesn't keep the idiots under control. A modulator is wishful thinking.
I got mine after cabbie got me off downtown back in '04? We were coming to red light and he decided to jump to what he thought was an empty lane.
We evolved to recognize and react to movement and flashing lights simulate it. It is not about seeing if you have it in your peripheral vision you will look at it.
Now you would still have some bumbaclot who would see and still do it, but majority people are inattentive not malicious. They just need help to see you.
From personal experience on my 100mi daily commute it significantly cut number of oh-sh!t moments from 3 per ride to 3 per month, so they do work.