I've been receiving PMs about this project recently as word spreads.
Unfortunately, it would be almost impossible to duplicate somewhere else.
Even if you can find the LED signs used, you never know what you're actually getting or if they'll work until you sit down and start bit banging them. That sounds kinda hot.
I still think a legitimate second option would be to get a video card with HDMI out, split that signal and send it to some LCD TV's strategically located around the track. The TV's can't been seen from much of a distance, which is definitely a limitation, but depending on your track layout, that might not matter.
We've been using the system the past few weeks at Mile High. Last Thursday was the first time I didn't have to fix any bugs in the code in the middle of a race, and it even gracefully handled an edge case I hadn't tested (where a class is added only for the mains, no quals). I also started using the "amber" color in most places rather than red or green since it appears to light both colors simultaneously, which makes it brighter. It's also more visible for certain types of color blindness. Yes, friends, accessibility concerns in your software even extend to the RC track.