Does ‘update global indexes’ not work if the index is already unusable

From the Maintaining Partitions documentation:

You can optionally specify if local indexes are also to be exchanged (INCLUDING INDEXES clause), and if rows are to be validated for proper mapping (WITH VALIDATION clause). [...]

Unless you specify UPDATE INDEXES, the database marks UNUSABLE the global indexes or all global index partitions on the table whose partition is being exchanged. Global indexes or global index partitions on the table being exchanged remain invalidated.

I believe you'll need to create a matching index on table2 and use both INCLUDING INDEXES and UPDATE INDEXES (but don't have a way of testing it right now).

That's expected, most DDL operations on partitions will invalidate the indexes affected by the DDL. The ALTER TABLE docs state that on all relevant operations.

Specifically for truncate partition:

For each partition or subpartition truncated, Oracle Database also truncates corresponding local index partitions and subpartitions. If those index partitions or subpartitions are marked UNUSABLE, then the database truncates them and resets the UNUSABLE marker to VALID.

So local indexes are truncated and marked valid. Global indexes are invalidated unless you specifically request that they be maintained. (See further down.)
In your case, it looks like your primary key is not based on a local index – it appears in fact not to be partitioned, since you can't do an alter index ... rebuild on a partitioned index, you need to rebuild each partition. So the invalidation is expected.

To do that, you can add an UPDATE INDEXES / UPDATE GLOBAL INDEXES clause to your ALTER TABLE statement to have Oracle automatically maintain the indexes for you during the ALTER - See Updating Indexes Automatically. There are some limitations though, read the Considerations when Updating Indexes Automatically section carefully.

But that's not always desirable. Sometimes it's more efficient to rebuild the indexes after the load. In that case, your load process can often use the SKIP_UNUSABLE_INDEXES parameter (can be set at session level). (This parameter defaults to TRUE in 11gR2.)