Ok, here comes my two other ideas, one with medium difficulty and one very, very simple:
1. Medium simplicity:
A photodiode (perhaps partially enclosed) and a LED placed beside the pedal. Attach, let's say, a metal bar to the pedal itself, which will be blocking the space between the photodiode and LED when the pedal reaches its bottom position.
2. Very, very simple (actually somewhat embarrassingly simple

, but I love simplicity):
Attach a string to the horizontal axle and spin it (is this the right word in English?) a couple of times around the axle. At the other end of the string, attach a conductor A (some metal thingy). At a proper distance below conductor A, place a conductor B (another metal thingy), which is fixed, i.e. attached to the floor/pedal bottom/axle casing or whatever. Attach the conductors to your circuit/light rig. When the axle turns, conductor A will be lowered to connect with B, and then raised again. This is embarrassingly simple, but it should be very durable and should be easy to make fail-safe.
EDIT 1: Concerning the string thing (2), this construction could be enclosed in a fixed plastic tube to eliminate/minimize any unwanted horizontal motion.
EDIT 2:
Update on the string thing: Three conductors are probably even better. Conductor A (on the string) is electrically disconnected in the normal position. At the bottom of the plastic tube, two conductors, B and C, are placed, which are connected to the light rig. When the axle turns, A gets lowered and connects B to C. This will mean no moving cables, only one moving conductor. So it should be even more fail-safe.