STARLITE 777 portable warning flasher light, railroad??

Here's another recent addition to my collections, from a swap meet. Though similar to a 'barricade light' (I just showed two more of those) I think this one was actually made for usage in the railroad industry instead, though it isn't specifically marked as such and I don't know that for certain. (if you can confirm, *please* speak up and leave a comment!!)

It is a STARLITE 777 made by STAR HEADLIGHT & LANTERN CO. of Honeoye Falls N.Y. and takes a pair of large 6v lantern batteries to operate. It has 5-1/4" LEXAN(R) plastic lenses, one red and one amber, fixed in a metal frame that can be rotated 180 degrees so either side shows toward the front, which also has a switch to turn it on/off. There's a metal bail/handle so it can be hand carried, and the backside has a metal fitting that could be hooked into some kind of receiver bracket on something more stationary.

Both lenses also have the name STRATOLITE and SAE-S-1A-T-68 on their faces -- if that SAE number is similar to those on automotive taillights it could suggest the light was made in 1968.