Only if you were running the red light at the time!
Thats destruction of public property.
Using a paintball gun would be defacing of public property.
The correct solution would be to cut the power to the traffic lights, or eliminate the government funds that pay for the operation, maintenance and use of the cameras.
Gimme my durn muffler!!!
Not if you're not running the red light while you're shooting out the camera. ;-)