Bifircator,
the main purpose of the shade is just to keep light from a bright source outside the frame (sun) directly hitting the front element. Wen shooting from a tripod, I've shaded the front element with my hand in the past, wich gives almost the same effect. It's just a pain to get the best effect and stay out of the frame with your hand.
I applied the black paint mostly because I could, the shade worked very well even without it (slightly glossy grey foam material). I don't think flocking is worth the trouble for this application.
Now I'm working on an idea for a shade for the Contax 35-70/3.4, which is in more need for it than the Distagon, but the rotating front element requires a workaround for attachment. It's worth it though to keep light from hitting the front element, the lens looses a lot of its great contrast if it isn't protected from sunlight properly.