I think the intention of the delay to 'better than Yellow' was to force an AWS caution indication for a diverging movement, which at first thought seems a sensible idea - the train needs to be running at a reduced speed for the junction, so ensure the driver doesn't get an AWS 'bell'; the caution indication reinforces the junction indicator, not the aspect.
However - and here's where the law of unintended consequences steps in - doing that weakens the traditional meaning of the AWS.
Consider an arrangement where the signal releases straight up to Green (if aspects ahead allow) well before the train reaches the AWS magnet, which in most cases it probably will because there won't be anything immediately ahead, drivers are now used to getting a bell, so when on the odd occasion the signal cannot go all the way up to G, there's a audible difference as well as visual. Now the AWS caution reinforces the aspect, not the junction indicator.
When I first started in S&T design, junction release was designed to delay the clearing of the junction signal to slow the train down to the junction speed. It was therefore based on the line speed, junction speed, distance to the junction, and deceleration rate. As I recall, we had speed nomograms to help calculate it. This became impracticable with the introduction of modern high speed units with significantly different braking rates, such as HSTs. We therefore moved to the principle of holding the signal until the driver knew that he was taking the diverging route and relying on the driver to regulate the speed accordingly.
Even so, it was hard to shake off the concept that the signalling should be slowing the train down. So even when flashing aspects were introduced, it was still deemed wrong to give the driver a clear AWS indication at the junction signal. It was felt that giving the driver a bell might cause him to start accelerating, in excess of the junction speed. So the junction signal was held at yellow until the train had passed the AWS magnet. This often meant having to provide an additional track circuit specifically to detect the train passing the magnet, so doing this came at significant cost.
The drawbacks of course was that it meant that drivers had to assume that the following signal would be at red, which often meant slowing unnecessarily. Or drivers becoming accustomed to the following signal not actually being at red. This arrangement is therefore no longer used in modern installations.
However, there must be hundreds of existing installations that follow this practice. It would be nice if they could be amended, but the cost would be enormous. Each particular case would need to be risk assessed to see if it was justified in this case, and what other mitigations might be necessary instead. The change would need to be designed, checked, installed and tested. Staff would need to be got to site to make the changes. There would be project overhead costs to manage the work, etc etc. The resource and budget costs would be significant. With ETCS on the horizon, would it be worth it?