It's excellent.
Regarding working lights and running the "wrong" way around a bidirectional track: I guess the light leads can be attached "after" the chip, and light up as it would on a analog track, no light unless throttle is pushed.
I like that the lights are on at all times, and wonder if you know of any rectifier that could be used for lights?
Would something like this do the trick?
RECTIFIER BRIDGE 1A
B