Your group "$G^3$" is equivalent to the pin group ${\rm Pin}(2)$. You can dig into that for maybe the closest to what you would call a "geometric" interpretation.
Edit: I am using the convention that $v^2=-\|v\|^2$ for vectors $v\in V\subset C\ell(V)$, where $V=\Bbb R^2$ has the usual positive-definite Euclidean norm. Here, ${\rm Pin}(2,0)$ is the subgroup of the Clifford algebra $C\ell(2,0)$ generated by unit vectors. If you use the negative-definite norm, you get ${\rm Pin}(0,2)$ as the corresponding subgroup of $C\ell(0,2)$, and here ${\rm Pin}(0,2)\cong{\rm O}(2)$. An isomorphism extends from sending $\exp(i e_1e_2)\mapsto \exp(i\theta)$ and $e_1\mapsto R$ where $R\in{\rm O}(2)\setminus{\rm SO}(2)$ is arbitrary.
Many sources use the opposite convention $v^2=+\|v\|^2$ to define $C\ell(V)$, which swaps the role of $C\ell(p,q)$ and $C\ell(q,p)$ associated to pseudo-Euclidean spaces $V=\Bbb R^{p,q}$, and in particular swaps the meaning of the pin groups ${\rm Pin}(p,q)$ and ${\rm Pin}(q,p)$. In any given source you may have to infer which convention they're using from context, unfortunately.
I believe the $(-)$ convention traces its lineage to quaternions since $C\ell(2,0)\cong\Bbb H$, but it turns out the $(+)$ convention may be more natural. First of all, it's more natural to view $\Bbb H$ as either of $C\ell_0(3,0)$ or $C\ell_0(0,3)$ than $C\ell(2,0)$, and second of all IIRC the interplay between the algebra and geometry is more intuitive on the $(+)$ way (hence the alternative development of Clifford algebras called "geometric algebra"). I just learned it the $(-)$ way first is all.
Define $e(\theta):=\exp(i\theta)$. The irreps of $\Bbb T$ are $V_n$ ($n\in\Bbb Z$) defined by the action $e(\theta)\cdot v=e(n\theta)v$. Notice, then, that if this $V_n$ is a $\Bbb T$-subirrep of a $G^3$ then $jV_n\cong V_{-n}$, so the irreps of $G^3$ are
$$ W_n \cong \begin{cases} V_0 & n=0 \\[4pt] V_n\oplus V_{-n} & n>0 \end{cases} $$
as $\Bbb T$-reps for $n\ge0$. For $n>0$ the element $j$ acts as $\bigl[\begin{smallmatrix}0&-1\\1&0\end{smallmatrix}\bigr]$. For $n=0$ the element $j$ can act as either of $\pm1$, so there are two corresponding $G^3$-irreps (call them, say, $V_0^\pm$).
More generally, if $N\trianglelefteq G$ is a normal subgroup then $G$ permutes $N$-subreps of any $G$-rep.