You asked if it could be straightened. If it's not creased, then I sure would take a crack at straightening it. I think you'll be successful enough. Maybe not perfect. If it bent so sharply that it's creased, then I think I would buy a new one.
How did it go? I just bent my awning arm by ever so slowly driving it up against a tree. Mine seems to be bendable enough to get it back so the alum c lines up and covers the arm mounted to the side if the RV. Its about an inch off right now. Still working on it