For those thinking it is odd to want to have some potential pain in your life, keep in mind that Germany is the birthplace of the PainStation [1]. Wanting your elevator to be gunning for you then makes more sense.
2. In case it was not clear, the passenger carts do not flip over when they go over the top (or under the bottom). They are suspended in a way that keeps them upright. If you fail to get off at the top you just come around and have another shot at your floor on the down side.
(Although a version that did flip would probably be extra popular there. See #1).
3. In an earlier discussion of paternosters, a link to a video of a modern take on this, by Hitachi, was posted [2].
It's an interesting approach. It has many of the advantages, but with no more injury risk than a conventional elevator. The basic idea is that the circulating cars are divided into matched pairs on opposite sides, with each pair independently driven by a cable. The shaft is not completely filled with cars like in the paternoster. There are gaps. Those gaps allow a pair to stop for passengers while other pairs are still moving.