My altered version of Camden’s visualisation for the 2013 Royal College Street project. I made the bus stop on an island with the cycle track passing behind it. The original design is as installed, with the cycle track passing in front of the bus stop, and no boarding/alighting island for passengers.
The Alternative Department for Transport 
Blimey, that’s eminently sensible. How hard would it have been to do this? The actual result shows lazy engineering, frankly.
The installed version was cheaper too, no doubt! (Though that’s no excuse.)
There could be better separation between cyclists and motor traffic in general, a kerbed median would be good. 35 cm minimum, 1.5 metres if possible. The cycle track needs to be wide enough, 2 metres concrete minimum, 2.5 metres standard, with angled kerbs, for the reasons that you Schrodinger’s Cat mentioned. I also want to make sure that the bus stop island is wide enough, at least 2 metres. If the cycle track is going to rise up to meet the pavement to create a level crossing, it must be an incline designed for something like 50 km/h. The idea is to provide a level crossing not traffic calming for bikes. Also the curve around the stop could be a gentler curve, designed for 50 km/h bikes too.