It's 2 minutes here in Virginia, USA as well. I'm surprised you waited as long as you did haha. I would have gone sooner I think.
Here in Norway, you can cross a red if its safe and you have waited more than 2 minutes.
I think the reason for this wait is simply that the sensors in the ground doesn't sense a bike because its light.
Would the bicycle area have more sensitive sensors maybe?
I'll have to correct my statement. In Norway you can cross safely if the lights shift 3 times and you are still on red.
I asked my teacher this on my riding lesson today. Said it was decided after a ton of discussion all over the place.