With 86 active levers and a plant that had pretty much remained untouched since the signalbox was constructed after The War, this is a huge loss for living signaling history, although a number of these frames survive in various preserved forms.
The machine was shut down track by track instead of a simultaneous cutover. This resulted in the unfontunate side effect of the model board being completely painted over aside from the last two active tracks along the bottom :-( All of this can actually be scene along with general tidbits about the Signalbox's history and future use in this video produced by Network Rail.
Unlike many other British towers Lime St is a listed building and should be preserved along with the rest of the station. Also make sure you check out the The Westinghouse Brake & Signal Company Ltd. Miniature power lever frame website for more information on this cross pond cousin.