So any stopped vehicle displays flashing red lights and extends a stop sign?
The indicators are used for a reason and are to be displayed only while loading or unloading students. If you’re in that big of a hurry, maybe try leaving earlier. The problem with going around a bus displaying the indicators is the children know traffic is supposed to stop when the lights are on. That makes them complacent and they often dash out into the traffic lanes without really looking.
rather than not complying with the lights, how about contacting the school and asking they don’t use the lights where they are not legally applicable. It would be safer for the kids.

An apartment complex parking lot (whether high rise or not) clearly does not fall within the statute. Second, the statute uses the term "highway" and highway as defined in the statute is limited to those roads/streets that are "publicly maintained." So a private road in a HOA that is maintained by the HOA (and thus not "publicly maintained") would also not fall within the statute. In some states the motor vehicle law definitions to do extend to private roads that are open to the public to use; your state might be one of them. But not all states are the same, and Tennessee has limited its definition to those roads that are publicly maintained. 