There's already another download available that removes the start lights, but it changes many other components from your HUD as well, which I didn't like, so I decided to make a new mod which will only do what it sais and also gets rid of the annoying wrong way sign.
Installation: extract the 'b_osd.pssg' file to your 'frontend' folder, replace it and you're done!
This mod will not affect multiplayer
No Start Lights + Wrong Way Sign 1.0
Removes the start lights and the wrong way sign.