I'm not sure about the saved from crashing bit, but they were named after the way real cats eyes reflect light, and built & sold using the Catseye trademark.
Apparently one person has been killed by one.
Quote:
On the morning of 25 April 1999 on the M3 motorway in Hampshire, England, a van dislodged the steel body of a cat's eye which flew through the windscreen of a following car and hit electronic musician Kemistry, who was a passenger, in the face, killing her instantly.
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