Well, yes and no. A mirror will reflect the light but will not give off a glow. That's the nice thing about a white wall because it reflects the light while also appearing to glow. What I would recommend is diffusing the light at the bottom of the shaft. This could just be a thin white sheet. Try it out, but I think you'll find that the sheet will make fill the room with a pleasant glow that pretty much fills the room. edit: As for the reflective tape, I'd stay away. It might make it brighter, but the light it will give off is not very pleasant. If it were pleasant, why would they use it on caution signs? The purpose is to simply draw attention to it.
Sure, just do as you would with any other car, go slow.