You're partially correct, the REASON they were fitted was to stop the hood touching the potentially dirty bodywork when folded. The adhesive on the Velcro loop side usually fails, leaving the Velcro hooked tape hanging in spaceI think the velcro is supposed to wrap around one of the centre hood struts to give a smooth finish to the end of the strut to stop it poking through the hood. It sort of wraps around the end making a cone shape and the end of the strut is then protected.
That's my theory, but it's probably totally wrong.
The press studs on the rear screen were to fasten it to the corresponding posts on the T-Bar (car not Forum!) to keep the plastic flat when the hood was lowered