I would never trust the output of such a signal to be identical with "everything has been OK up to now". 30 years of writing and testing software / managing software projects taught me that this won't be the case in general. Appearance of such a signal would just mean "we have reached this point in the installation" -- but would not be any indication that no errors have happened.
Bernhard's model is good because it is robust and does not depend on correct behaviour of a part of the to-be-tested software. This would be the case with your proposal. Therefore, I think that Bernhard's approach is actually better.
(I don't know the software in question and if the implementation is robust; my comment is based on the article and your comment.)