I don't think it's practical to design the bike lane differently. Out of the few who bike on Highway 7, even fewer are dumb enough to not stop when people are getting onto/off of a bus. And there's a real drawback when you move the bus stop ~10 meters farther from the corner. Bus service becomes slower, the stop becomes less convenient, and you'll still force everyone to cross the bike lane at some point, a lot of whom won't bother to check if someone's coming.
The TTC has a similar conflict on their College streetcar and the Sherbourne bus. There are a lot more bikes and a lot more transit users, and yet there's no epidemic of people being hit by bikes as they get onto or off of the bus. I don't see any reason why Highway 7 would be worse.