Heheh. As I retired transportation engineer who dealt with traffic signals as a career, I feel your pain. There are a few signals in TV that could be improved, and the signal your post is about is probably number one on the list.
Either of your suggestions would be an improvement. I don't know the traffic volume/time-of-day data. Flashing may be an option at low traffic times of day. But the intersection screams for traffic sensing with variable cycles and phases. If you arrive at the right (wrong) time, you currently can spend an inordinate amount of time waiting for a green light with nary a vehicle passing through. Ouch.
