
Not too many takers on this one. Which is interesting, given that there is boatloads of data out there on this particular beast.
That said - only two takers, but #2, Pat - got it mostly correct when he identified them as rounds for the M8C Spotting Rifle. His only error (obliquely) was continuing on and tying it to the 106mm recoilless rifle.
These were used for the M8C rifles used on the British Wombat recoilless rifle - a quibble, certainly, except the red paint in the flutes indicates their Brit origin.
This website (the Armorer wants one of these guns) has a nice set of pictures of a before and after restoration of a 106RR.
The spotting rifle is used by the gunner to acquire his target, without wasting main gun ammo, and with a lessened signature to give away his position. The M8C is a gas-operated semi-auto, which means the gunner just pings away with it until he sees a hit on his target at which point he fires his main gun. The use of a special cartridge with the M8C, vice a regular .50 cal round, is because you want the ballistic performance of the round to be roughly equal to the trajectory of the main gun - speed of flight isn't as important as trajectory matching is.
Tanks can use their coaxial machine guns for the same purpose. The Israelis even mounted M2 .50s on their M109A1 155mm howitzers for the same purpose - to make it easier to use the guns in direct fire mode.
Now for the fun part - doing some research for this post, I found this very nice picture of an M50 Ontos - the USMC reckless rifle carrier of the Vietnam era.

And I found this website with a lot of great pictures of the Ontos, certainly one of the odder weapon systems we've developed over the years. A lot of firepower on that little tracked chassis - but all served from outside the vehicle, on a vehicle, by the very nature of the weapon, that is going to attract a *lot* of attention.
Enjoy.
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