I’m not sure I like this idea. You instinctively look at people in the face, so when a person with a bright white light on their helmet looks at you, you are left dazzled. This leaves me with stars in my eyes while I’m trying to cycle in the dark. I suppose it depends on the brightness of the white light, but whenever it has happened to me it has pissed me off.
Anyway, you can read more about the torch bicycle helmet over at kick starter.