Agreed; this isn't at all ambiguous. If you were allowed to cross, it would be a walk signal with countdown.
LA was the only place I've ever been crossing the road with the valid pedestrian signal and had to stop walking or I'd literally walk into the car turning across my path (to the right, with the same green light I'm crossing with). It happened a couple of times, and I was only there for one week.
You also clearly haven't spent much time in L.A...many of these signs flash the walk signal for literally 2 or 3 seconds before beginning the 20 second red countdown.