This sounds right enough. Similar research was done into the increase in road deaths in the US post 9/11 when people stopped flying.
The language is colourful, but the point is that large numbers of people started cycling because they were afraid of being blown up by fanatical bearded twits on the tube, and were instead run over by fanatical tattoo'ed taxi drivers on Oxford Street.
To refer to this phenomenon as "a second wave of deaths" is a bit daft, and to single out cycling as "more dangerous than terrorism" is also silly, as many things, in particular rugs placed on polished wooden floors and christmas tree lights are also more dangerous than terrorism. But hey. 🙂