After thinking how nice it would be to have the ABILITY and tools to make
a sprocket wheel, I realized that it might not be truly necessary.
Are the number of sprocket holes the same as the number of bits, or an
integer multiple?
What would be needed would be a guide for the tape, and a block with holes
drilled for the photocells, including a photocell aligned for the sprocket
holes. Just pull the tape past that block of photocells. When, and only
when, you get light through the sprocket hole, then look at the other hole
positions.