My understanding is that warps are lines that are towed behind a boat in order to moderate its speed.
The effectiveness of the warps is variable due to warp length, line thickness and period of the following seas.
Trailing warps means to have long lines trailing aft of the boat when moving downwind in heavy weather...preferably there are loops in the ends of the lines and they are long enough to span two wave lenghts.
Warp reffers to a large line, equivalent to an anchor rode. It can be used for warping the ship (moving by pulling against ground anchors), mooring, or can be towed as described above.
If used as a drogue it will be in a loop, one end on each stern cleat (no loop, no drag), and the loop is weighted so that it sinks, thus the term "weighted warp." It does not slow the boat much, but it can reduce yawing. The weight must be secured in such a way that if one end is let go it is not lost; the warp is retrieved by releasing one end, whic reduces the drag.
However, most boats don't carry enough rode for this to work; we don't warp into harbor anymore!
WARP - " A rope or light HAWSER attached to a KEDGE ANCHOR or fixed object and used for pulling on in order to move a ship from one place to another in a harbor, road or river. A rope used to secure a vessel to a QUAY or to another vessel"
from 'A Sea of Words' - A Lexicon and Companion for Patrick O'Brian's Seafaring Tales