What is the role of this Zener diode in a LED string? (Old traffic light restoration)

Great input everyone! Much appreciated.

Ah yes, I see what you mean there. That could be undesirable indeed but for it's new life as a strictly decorative item it's not of concern.

You're correct. Only one color/aspect lights at any given time (it's an old Benelux type of traffic light):

  • Red: stop
  • Yellow: caution
  • Green: pedal to the metal

Yes this traffic light was operated from a transformer connected to (I believe it was) a regular 220VAC street line (Europe). After I'm done rewiring this thing it will ideally be powered from a 24V or 30V switching power supply hooked up to a regular 220VAC household plug. 24V I'm still debating since the green LEDs already draw 23.7V per 8 LED string. So that might be too close for comfort?

Good thinking! I wasn't aware of that. I just have a lot more soldering to do it looks like.