It hasn't improved things yet. Riding the #5E from downtown toward Shoreline has become increasingly frustrating. Pre-light, the bus may have to wait 5 minutes in the exit/turn from Aurora to N 45th St. This week, the wait time has doubled.
The issue I've seen is that those driving west are blocking the intersection for those turning left off the Aurora exit onto 45th. When driving, I've never run into a back up for people on 45th trying to turn left onto south-bound Aurora, which is what the light is intending to address. It's the backup of people in the right lane, those heading toward Ballard, who cause the backup.
Perhaps increasing the length of the light at Fremont Ave. may be a step in the right direction.

I'd love it if they'd increase the amount of time to go west from N 46th St across Green Lake Way at the adjacent intersection... you typically can't get more than seven or eight vehicles through before the light changes. This is why I nearly always take N 50th St. rather than N 45th St coming home to Ballard from I-5.

I hope this works. I avoid this exit at all costs due to the ridiculous back up during rush hour.