Most of the detectors are an inductive loop. This would lead me to believe there is a type of Radio Frequency oscillator circuit. When there is the high presence of ferrous material near the inductor loop it changes the oscillation. The oscillation is probably referenced against a standard (A number of ways to do that) and when the oscillation changes frequency and an error amp starts the logic process for tripping.
Why some work and others don't is one of the great mysteries of the universe. Well not really..... It's not hard to look at man sending a spacecraft out into the universe with a golden record and a repeating message saying, we come in peace and want to be your friend, and the traffic light sensors and not see what the correlation. In light of this (no pun intended)

I am including a schematic that might shed so light (pun intended)

on this.
I actually stole this schematic from a member on this forum..:BLAA: