The extended hubs are part of the friction drive system used to propel the Trackmobile (orange vehicle) on the tracks. As the rubber tires rotate they engage the hubs, causing the metal wheels to turn (albeit in the opposite direction). Friction drive railgear offers improved starting torque over conventional guide wheels, which is very helpful when starting and moving cars at slow speeds.
Normally it is not common for road tire vehicles to have couplers, but most maintenance of way (MOW) equipment is modified to meet the railroad's specifications; common modifications include on-rail wheels, additional work lights, warning lights, and special paint/decals. Best guess is the crane was modified to function as a car mover; it is possible the vehicle was assigned to a car repair shop that needed a portable crane and a means to spot cars in need of repairs.
Hope this helps!
-John