Gophert, your timer will not timeout if something blocks the LED (a parked truck?) for time longer than the timeout.
The original circuit has the same problem.
I now understand your concern, audioguru. The possibly slow high/low transistion of an LDR may make the capacitively coupled trigger recommended in the datasheet unreliable. Hopefully this simple resistor/diode combination can be used to pull the trigger high after a triggering event.
Note, it is only necessary if there is a chance that something keeps blocking the laser beam more than 5 minutes (truck parking in the beam). I haven't tried the circuit but I suppose it will work to pull the trigger pin high.