Yep...is this an actual failure mode?
Have a circa '93 Fisher-Pierce photocell that is doing this; it turns the light off after the 2 minutes (light was on a switch), even in the dark! It used to be a very insensitive PC so I highly, highly, highly doubt it was "seeing its own light", plus it didn't seem to cycle on and off.
I tried a new bulb, so I know it wasn't a cycling bulb either...
Thoughts?