Unless you're sure you're going to get LED lights, I'd expect a lot of overlap in the color pass bands for standard lights.
Additionally, unless you're willing to spend some money for extremely narrow field of view optics, the sun can be in the field of view of the detector, and no amount of filtering will screen out the sun. Even with the sun out of the field of view, glint from the light structure can give you false signals. 8" light at 30 ft would need something like a 2/3 deg field of view with ~1/6 deg angular aiming tolerance; expensive...
Using a camera would seem to be better, to me, since the same camera that collects the traffic data can also simultaneously collect the light signal data, thereby simplifying the synchronization of the data. Moreover, since the imagery is collected continuously and from a fixed location, the traffic lights can be localized in the image and some image processing can be readily applied to weed out false alarms from glint and solar background.
TTFN