Nice idea. How do you imagine the system lighting the streets in color?
Would it average all the feelings representing different colors and then produce some shade of all those mixed colors (e.g. if the average mood of the citizens was somewhat in the middle of the feelings spectrum that day it would use green color because green is in the middle of the color spectrum) and use it for all the lamps in the city or would it do something like a color map, meaning some lamps in some areas would shine yellow, then the bigger area with lamps green, even bigger red, etc?
The second option would represent the percentage of people feeling that way that day, but then you could only see the big picture from above, so the first option is the simplest and perhaps the most practical one.
Alternatively, one could use a block system and the percentage-based color mapping, meaning that you'd have a different number of lamps shining different colors in a small area that's easy to see from the street level (like 100 meters of the street or so) and then such "blocks" would repeat throughout the city repeating the color map.