I agree with Phil's comment. I dont see why "WITH TRUNCATE_ONLY" is necessary. This breaks the log chain and renders the publishing database unrecoverable. If you do this you should immediately take a full or differential backup to make the database recoverable again.

Keep in mind too that beginning with SQL 2008 that option has been removed. BOL says "The BACKUP LOG WITH NO_LOG and WITH TRUNCATE_ONLY options have been discontinued". The suggested means to forcefully truncate a log with no backup is to switch the database to SIMPLE recovery model then back to FULL. Of course this also renders the DB unrecoverable and an immediate backup should be taken.

The better thing to do would probably be just run a normal log backup and ensure that the log got shrunk.