Triple quotes within a triple-quoted string must still be escaped for the same reason a single quote within a single quoted string must be escaped: The string parsing ends as soon as python sees it. As mentioned, once tokenized your string is equivalent to
"""Hello World's"s""" ""
That is, two strings which are then concatenated by the compiler. Triple quoted strings can include newlines. Your example is similar to
duke = """Thou seest we are not all alone unhappy:
This wide and universal theatre
Presents more woeful pageants than the scene
Wherein we play in."""
jaques = """All the world's a stage,
And all the men and women merely players:
They have their exits and their entrances;
And one man in his time plays many parts."""
If python was looking for the outermost triple quotes it would only have defined one string here.