Yes it will work, but I would not recommend it. First time any patrol car looks at the number plate and sees a set of lights around it ( remember that they will fine you for having even neon surrounds) they will first of all arrest you, then charge you for 'defeating the ends of justice', which carries a lot of time with it.
The traffic light cameras use a flash with a very high light output, and have a IR block filter, so they will not saturate, plus even the IR ones use a high speed shutter, so they can image a car doing over 200MPH in daylight. I always ask for a copy of the photo, seeing as if I am paying for somebody in the company speeding the least I can attach to their salary slip with the deduction is the photo. They learnt very fast not to speed. I know the location of a lot of the cameras on routes I travel regularly, and wave to the van if the cop inside is awake ( A lot of time they are earning money while sleeping), a lot wave back.