The warning triangle would indeed serve to notify folks in front of that truck that there is in fact something connected and directly behind it, and thus reduce possible turn-in accidents... From the traffic-director MP perspective (been there, done that!), such a device also gives the cop a head's up as he makes decisions about who goes where when and how fast at the intersection. The (possibly heavy) trailer will also affect how fast the truck can stop and whether it needs more space to make the turn... All in all, pretty useful in that era.
I might also imagine that the trailer could be a factor in crossing some bridges, and again a traffic controller would have info up front as the truck approached...
PS: These types of signals were still in use in Euro trucks for many, many years after the war, suggesting that at least some folks thought them to be helpful. Some of the more-recent additions to the army of happy motorists filling roads today are, alas, much more sure that they actually can see that trailer and not turn into it "to make it through before the next ruck gets to the corner" (been there, seen - and policed up the blood and pieces left - that, too!)!
Bob