There is an issue with the Factorio mod API regarding rail-signals. You simply cannot reliably detect whether there is a rail-signal attached to a rail. This is rather surprising, but my workaround is to trace the middle of a pair of rails, find the entities along that path, using a small radius area-scan. Then I hopefully catch the signals, which may belong to another rail altogether. Then I check the rail connected to the signal (this works well, it's just that the other way around is broken), and check whether the detected rail is on the track that I was tracing (if not, it may have been a crossing rail). Then you have the issue of which side the signal is on, which is not too trivial, because individual rails have no obvious side (as they don't have a direction), and two-way tracks are ofcourse much harder. You basically have to determine left/right, relatively, based on the orientation of the locomotive which is passing by (which may or may not be driving backwards, flipping the orientation). Anyway, that can all be solved, with a huge UPS cost, so in the end you can almost... reliably detect whether a train passes a signal, which my own mod, and your referenced mod use to permanently set the max speed of the train.
However, this is not how speed limits work. Let's say you have station A and B, after each station, a speed limit is set, say, A' and B'. Now each train will forever have their custom speed limit (saved per train), while in reality, a road-segment has a speed limit, it's not that each car has its own speed limit based on the last speed sign it passed. With this naive approach used in the mods, we can have a train still capped at 10km/h, on the same rails whether other trains can go 200km/h.
Hence the design of both my mod and their mod is all wrong. If you'd want a realistic approach, you'd ideally have to trace logical rail-segments (between signals with defined speed limits), and end speed limits where tracks merge. It would become a logical nightmare, even if the UI would show it. You can look at real-life, where you see a billion speed signs in your daily commute, to define the limit on every segment of the road.
So the current approach is logically deeply flawed, and the proper approach is impossible to manage by the player.
All this even ignores the point that vehicles should not start braking after the speed sign, but ahead of it, and pass it at (at most) the displayed value.
Additionally, multiple mods messing with train-speeds truly leads to instability, as it interferes. Even with one mod, if you set the train speed to 50km/h, the engine will accelerate it each frame, and you have to account for that. So you measure the error, and say, cap it at 49km/h, to end up at 50. This is messy, when you're the only mod. This gets nasty when other mods are changing the acceleration too. So it's best all handled in 1 mod. Hence if I were to consider this, it would be an addition to RRTA, as opposed to this separate mod.
I will have to think how to design this properly though, because everything I considered so far, seems rather bad :)