I would imagine it could be handled the same way as if it were "hard-wired" links. If you have two routed parallel paths, you can load balance by assigning the same metric, or you can create a primary-secondary effect by assigning an appropriate metric (a "floating static route").
If the laser is connected to one segment and the radio is connected to another, both aimed at the same destination, it would be basically the same as if you have to stretches of Cat5 between two endpoints.
If you have two routers / L3 switches, then you could do the same thing, but use HSRP (Hot Standby Routing Protocol) to do the failover (pretty quick) ... and with some clever application of VLANs, you could do a little load balancing to boot.
FWIW
Scott