Nice build.

Combining this with the redstone work for a day/night detector and a time delay system (dispensers/ items through cobwebs) you could have the red light "light up" as night approaches warning players it isn't safe outside. As morning approaches the light could turn yellow to warn players to remain cautious in the dawn light. Then turn green as 10:00 AM approached (or whatever time is required to have burned off any exposed mobs).

OR a similar clock with long timers to keep it green all day then turn yellow for dusk then red all night until day reset the clocks.

Just an idea.