I was at the presentation by the company that makes this product, Street Print. Simply put the premise is that the reflective material is inset in regular asphalt so that it is 1)below the level of plow blades and tire friction, and 2) has the flexibility and durability of asphalt (as opposed to brittle concrete).
Apparently this product has been used with good results in metro Toronto and elsewhere with snow and freezing, but seeing will be believing.
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