I have a much tighter variation of this which certainly does not work, and I think it's because areas that separate sections overlap several tracks and there might be a bug.

But I ran this one for a pretty good amount of time without issues with maybe a maximum of 4 trains hitting it at the same time. I'll revisit it eventually to see if it can be improved, but at first glance it seems to work as I expected it to.

I already tried this long time ago, never worked