Is the level crossing a user worked barrier crossing? If so, then BU will stand for 'Barriers Up'. They are used on the Tarka Line at Eggesford. The driver operates the crossing, drives the train over the crossing and the barriers should raise automatically after the train has passed - at which point the BU sign will light up informing the driver then the crossing barriers have raised. If the sign doesn't light up when the train reaches it, the driver will need to go back and manually raise the barriers.