I found this totally creative, novel and very well executed.
Brilliant use of light, shadow and mind. Isn’t it?

It reads “GALLERY”.
Reminds me of Fred Eerdekens’s work (mentioned on Typophile before).
I’m not sure I’d say “very well executed” until they get a higher-wattage bulb. ;-)
So how does this sign work in the daytime?
I’d figure this would look much the same on a south-facing (in the northern hemisphere) wall at high noon, and skew throughout the day at other times, throwing the separate shadow elements out of alignment to make it undecipherable less than an hour out either way.
Otherwise it would look like semi-random bits of wire sticking out of the wall.
Captured from web.archive.org on 10 Dec 2008. view this capture