Social media platforms are increasingly deploying complex interventions to help users detect false news. Labeling false news using techniques that combine crowd-sourcing with artificial intelligence (AI) offers a promising way to inform users about potentially low-quality information without censoring content, but also can be hard for users to understand. In this study, we examine how users respond in their sharing intentions to information they are provided about a hypothetical human-AI hybrid system. We ask i) if these warnings increase discernment in social media sharing intentions and ii) if explaining how the labeling system works can boost the effectiveness of the warnings. To do so, we conduct a study ($N=1473$ Americans) in which participants indicated their likelihood of sharing content. Participants were randomly assigned to a control, a treatment where false content was labeled, or a treatment where the warning labels came with an explanation of how they were generated. We find clear evidence that both treatments increase sharing discernment, and directional evidence that explanations increase the warnings' effectiveness. Interestingly, we do not find that the explanations increase self-reported trust in the warning labels, although we do find some evidence that participants found the warnings with the explanations to be more informative. Together, these results have important implications for designing and deploying transparent misinformation warning labels, and AI-mediated systems more broadly.