Few things struck me when I saw this:
1. If the walking man is supposed to be a "universal" sign for walk, why do you need a sign that tells you to wait for walk?
2. If a person cannot read (English), and needs the walking man, how on god's green Earth is he going to read the sign to know that he needs to wait?
3. As Chaltab suggested, the "WALK" sign isn't there. Only the walking man. How long is someone going to wait for "WALK" before they realize its not coming?