Not sure about that set of lights, but I have seen signs elsewhere and all were in Thai only. Also, I don't think it applies to all intersections but I could be wrong. Personally, I don't see anything wrong with the way it was, and if pedestrians are the reason for concern, then why not have pedestrian friendly traffic lights in the first place. Besides, you're just as likely to get hit by a bike if you're walking on the pavement
I have often felt sorry for tourists trying to cross the roads here because it must be quite scary, but I think once you've lived here for a number of years, you simply adapt. The same applies to driving here. Even though you have your left or right indicator on to show you're just about to turn, you still have to make sure nobody is trying to overtake you on the side where you're about to turn.
Either way, I would hate to see things change too much because then Thailand wouldn't be Thailand

Don't try to impress me with your manner of dress cos a monkey himself is a monkey no less - cold fact