Greenwood Avenue now has bikelanes from Danforth to Queen. BikeToronto has a photo taken at Dundas Avenue East, looking north:
These are really good in that they connect the Danforth (part of the proposed bikelane or sharrows scheme for Bloor-Danforth) with Queen (always popular with cyclists), but also intersect with the Dundas East bikelane which runs from Broadview to Kingston Road.
A little bit of an extension north of this new bikelane would also see it connect with Strathmore (a signed, but not painted, bike route), which is just north of the Danforth.
A big extension of this northwards could also connect it with the Cosburn Ave. bikelanes.
You can see all this on the relevant section of the Toronto Cycling Map (PDF file) - the area in question is in the lower-left of the PDF.
For now, I’m happy. Getting more bikelanes like this on major roads (ei. roads that go somewhere) will raise the profile of cycling where they are installed.