My brain cannot get past the idea that if each light were pressed independently of the others, there would have to be a separate motor for each light pressed. This is compounded by the problem that a mindstorms brick can only handle three motors. Then you are talking all kinds of machinery to turn on small very small lights.
Negative. That’s a very basic design. You could design gears in such that they support. “Configurations” on subsequent revolutions of a master gear. To make a clock, you’d only need to program configurations to represent numbers 0-9. Certainly would take more smart engineering, but look at a watch, or even @hannah133 ’s build of that big clock thing. I’m on my phone now, or I’d pull up the link.