I just bought a replacement Set of Hood Insulators for my 56. One Side is Yellow Fibreglas Material and the other Side is a Black Material. I seem to recall seeing it installed Yellow Side showing. Black Side against Hood. Is this the correct way it is installed? I just found a Picture on the Internet showing Yellow Side showing. Is it correct?.

  

Yellow shoes on every one i have seen.

IMO ONLY-

The BLACK MATERIAL side should go down (shows) as it protects the actual fiberglass batting.

The matting is attached to the hood underside with 3M Spray Adhesive,

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All the pictures I have seen have the yellow side down. I've seen an original commercial showing the insulation but I can't find it now. 

I just found a Picture of a 56 restored by very respected Ford Restorer and the Insulators are Yellow side showing. Also read somewhere that originally the Insulation from Factory did NOT have the Black Fiber on either Side. Just straight Insulation. The Black was added by Repro Manufacturers apparently. 

  

If you do not have a PCV system on your engine the top breather/oil fill will vent over time causing the yellow fiber to start showing dark "oil" color. When I redid my paint I choose not to replace the mat.
Since, I have purchased a sealed filler oil cap with a 1/2" hose fitting attached. I ran a piece of hose to the inside of the air cleaner (under it) like stock would have been.
I still have my road draft tube and when underway the air passing by it will suck the "clean" air from inside the air cleaner threw the engine. When idling, crankcase vapor will be possiblely sucked into the carb. I have not seen any additional contamination to the top exposed part of the carb.

56 Vic, B'Ville 200 MPH Club Member, So Cal.

Maybe this will help-

https://www.youtube.com/watch?v=Z3pECsn8WeQ

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That is the video I had seen. What is in that dark colored area on the hood underside in the front? Is that insulation?