Yep! I'm pretty sure they're to tell people that there could be a "Flyin' Smokey" overhead looking for speeders, alright.
But unfortuantely that sign DOESN'T mean that they're up there looking for anybody making dangerous lane-changes by failing to check their BLIND SPOT, and/or making turns without signaling!
(but then again, I guess that second one might be a tad hard to spot from up there, huh?!)