Sadly, many of the traditions of this mid-winter festival have fallen by the wayside. In the past the faithful would have gathered at the Church on this day with candles made of beeswax. These candles would be blessed along and a procession of lighted candles (similar to the Easter vigil) would take place symbolizing the light of Christ arriving at the Temple. Later when people would return to their home they would place the lit candles in their windows...something that many now do with electronic candles during Christmas time.
The feast of the presentation is a feast of sacrifice. The first born child was to be offered to the Lord but not in a bloody sacrifice as with the pagan religions. A modern celebration of this feast could emphasize this sacrificial nature that Christianity brings over and against the horrible sacrifice that modern consumerism preaches that leads to the bloody sacrifice of many first borns to the gods of convenience and pleasure.