from the pics it looks to me that this was a regular intersection with (normally) changing lights and that the lights were on "flash" for some reason (Wes???).
But, my understanding of a flashing yellow is "proceed with caution". Does not mean stop, look and listen- but I usually SLOW down, especially in a situation like this, because for the folks who drive through this intersection 10x per day, their brains may not be able to handle it if the light is doing something different like flashing red or yellow.
Flashing red (or ANY red for that matter) means STOP, then proceed with caution when the road is clear.
Oh, I'm sure they appreciated your Paparazzi photo-shoot too Wes...
Bret