While on the subject of 360 degrees of reflection like the BrightBike idea, here is BikeGlow. It looks like the glow necklaces you get a concerts or children wear on their arms at parties. Running on battery power the BikeGlow wraps around your frame set, tubing or, I would assume, body.
The 10 foot tube weighs 2oz before batteries and comes in 8 different colors. I think this is a super cool accessory for anyone’s commuter bikes. I also can see it working very well with the “pimp my cruiser” group or to give some spice to your childs ride.
From BikeGlow : A bicycle safety product, the BikeGlowTM Safety Light illuminates the entire bike frame at dawn, dusk, or night, dramatically increasing the visibility of the rider, specifically from the side. Running on 2 AA batteries, the battery pack attaches to the seat post, and the BikeGlowTM Safety Lights wraps around the frame and is secured with the provided attachment strips. When riding in less than optimal lighting, rider pushes on button on the battery pack and frame light is on.