I would guess the target rendering resolution is in this case more important factor, as that affects the amount of pixels being sent to the phone. While the texture resolution will affect rendering speed on the GPU, but not the amount of pixels in final image.
Well, I guess that TrinusVR sends the pixel data to the phone, not the 3D models and textures. But it may be implemented also this way, sending to the phone 3D data and let the phone GPU render it, then low-res textures would help for sure. Tried to google some details how that SW works, but no details to be found anywhere, so hard to help you.