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Thanks, I thought you meant that spot--I just can't quite see the depression in the photograph. And yes, the scheme is rubbish, although not quite as bad as what is being built at Old Street/City Road. The outcome of a series of very bad decisions. Mind you, it was hard to know what to do there, but the best solution would have involved a significant loss of motor traffic capacity, which they didn't want.
lower line of white markings, fourth from the left. It is not a well designed traffic scheme in my opinion, especially the pedestrian crossings outside the tube station and the Hen and Chickens bar seem have to pedestrians walk into moving traffic.