Hey Tyler,
The Altec Giant Voice Warning System was the "Grandfather" of all Electronic Warning Systems we have today. The High Pitch "ALERT" Tone you hear in the video would sound for 10-15 seconds then the operator would turn the tone off and turn on the microphone to broadcast the voice message. After the message was broadcasted, the operator would turn the High Pitch "ALERT" Tone back on for 3 - 5 minutes, before broadcasting the final message again and then turn the system off.
The "ALERT" Signal was a High Pitch Steady Tone (Heard in the Video)
The "ATTACK" Signal was a High Pitch Pulsed Tone (Just like the video but pulsed like a Car Alarm horn blowing repeatedly)
The "TIMED SIREN" was never used. It sounded like a dual tone mechanical siren in "ALERT". This feature had electrical problems and would not switch off. I'm not sure why they never got it fixed and used it. If you pause the video of the man's hand on the Console "Audio Input" switch and look closely, you'll notice the different inputs (Stead Tone, Pulse Tone, Timed Siren, etc......)
Here is the activation procedures: