That doesn't look like a theatrical trailer. It's much more likely to be part of the ABC promos that they used to run back then. ABC used to dedicate entire half hours to strings of promos for the upcoming season, including made-for-TV features coming on the Movie of the Week.

The Warner DVD looks perfectly fine (actually preferable in my opinion) when matted down to 1.66:1, so it probably played at that aspect ratio in European cinemas.

On the version available from Warner Archives it has a theatrical trailer so it must have been - either intended or actually released - outside the U.S.

"Earth II" was released theatrically overseas

Many American TV movies have gotten overseas theatrical releases, widescreen or no.
You may also recall that there were American theatrical releases for the original
Battlestar Galactica
and
Buck Rogers
TV series. (see
http://us.imdb.com/board/10077215/releaseinfo
and
http://us.imdb.com/board/10077278/releaseinfo
, respectively.
Battlestar
was pumped up with the "Sensurround" process.
"Well, there it is."

Because Sunday was the highest rated night of the week in that era, the ABC Sunday Night Movie had a two-hour time slot, so the running time for Earth II is correct. It was never and could not have been released theatrically because it was not shot in widescreen.