Yes, same status in law AFAICR. I think the main wrinkle is that the "WAIT HERE" signs are meaningless and it is passing the post of the lights which is the offence. EDIT: this is no longer true. The WAIT HERE sign is legally like a stop line in TSRGD 2016.
I expect police will ticket you if they see you jump it and you fail the attitude test when they try to advise you that was a bad move. Not sure what you mean by prosecute.
You may have a possible defence if the lights are defective (not detecting cyclists) and you proceed with caution after a reasonable delay.