The classic Searchlights were said to be unreliable because of the mechanism inside which moves the three coloured lenses in front of the lamp. This always puzzled me because the same mechanism has been pretty much universally used without issue nationwide in the USA since the first major colour light signals came along there, and still is. In fact, the LNER, who I believe were the pioneers of them in Britain, imported the first ones from the US.
As I understood it the traditional Searchlights were operated by a single pair of wires from the signalbox. The three coloured lenses inside were mounted horizontally in a strip, with the red in the centre, yellow one side and green the other side, and a spring to bias the assembly to show the red, central lens in front of the lamp. Positive polarity in the wires operated a motor connected to the slide which overcame the spring and moved the yellow into position, while negative polarity moved it the other way and showed the green in front. The current needed to be continuous to maintain this. No current, or a failure of the wiring, and the display reverted to red. The lamp itself, and the mechanism motor, were battery powered with a mains trickle charger.