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jimmy_james
Can kind of see why (from experience). Many people fixate on the one thing right in front of them. I've had people try and barge past me at a pedestrian crossing only to then find the crossing blocked for 20 seconds whilst 100 odd school children (all in hi-viz natch) plodded across.
I only do the "hold back" signal when I'm slowing for something people behind might not be able to see, and usually it's because even I can't tell if there's anything there (e.g. approaching a pedestrian crossing with obscured view).
It's not really a "hold back" signal, it's more of a "I'm slowing down because I may stop suddenly, so don't you fucking dare ride into the back of me if I do."