That is the one of the things I worry about the most. Someone looking at me on the side of the road with that camera thing and magic pole, having a wreck, and blaming me. Not someone finding one of my 20-year old surveys, misreading it and building a fence on the wrong side; OR worse yet, using it correctly and robbing me of the $200 I would make resurveying it.
Anything other than a residential street & I try to place signs and I always have a truck that is lit up like a christmas tree. While this does not seem to slow the passing traffic, at least I'm covered when OSHA shows up.
In my experience cones do nothing - signs are not much better. We had an incident where a driver slowed down and yelled at the crew (who were on the shoulder) "You guys need to put up some signs!" He had passed our sign about 5 seconds prior... That being said, I would NEVER allow my folks on an Interstate Freeway without a full complement of cones/signs - I respect my employees more than that.
Anyone can be sued for damages. An insurance company would likely attempt to settle out of court to avoid a jury trial. You could find yourself uninsurable after something like that.
A lessoned learned from the days of GPS at night. If you really want to slow traffic, throw some good old fashion flares out. Everyone slows down to see the carriage. Just make sure that they are not going to cause a fire.
I cannot answer your question as to liability, but in Texas, if you are surveying along a DOT roadway, there are explicit instructions/guidelines for establishing notice. Signage @ 500' & 1500' before and after area you are working in, flashing safety lights, vests, etc. TxDOT does not allow working on their roadways during rain.
I would believe that a company could be proven to have liability if the state DOT guidelines, if any, were not met.