I have seen a few cyclists just use the bike lanes and dismount or use pavement at junctions until they resume again.
I presume this is meant to be a variation on that which doesn't require cyclists to dismount:
Have to say I didn't use that when I passed that way yesterday. I think it's supposed to allow right-turning cyclists to have a head start on traffic from Greenbank Crescent to proceed across to Braidburn Terrace when the lights change. I'm a tad skeptical given that there's often a reasonable number of cars waiting to turn right into Braidburn Terrace from Comiston Road, which then stream through when the lights change and probably wouldn't appreciate or even notice bikes arriving from their left (which is usually the worst side for observation by drivists anyway).
I've not had problems previously turning right from the crown of the road as normal, but maybe I'm just sufficiently assertive to feel comfortable doing that. I'm not keen on the opportunity the new markings give for gammons to advise me that I have to use them so I don't get in "their" way.
Basically, I don't think it adds anything to cyclist safety (as you say, if you really don't want to do the right turn on the road you can dismount and wait for the pedestrian light) and in fact looks more like yet another sop to drivers of motor vehicles which could all too easily end up being used as yet another excuse to browbeat active travellers.