I actually think there's a bit more to this than "it's a high pressure area, so it wont work" (not that I'm suggesting fivebob's comment above is saying that, but most seem to be of that opinion).
I'd think that things such as - what the car is being used for & what the average speed it's travelling at would have a major effect on whether or not it's worthwhile. Obviously when stationary, having the highest point of the engine bay vented will allow heat to pour out, and this will occur until you reach a high enough speed that the pressure at the outlet (base of the windscreen) becomes higher than the pressure at the inlet (engine bay). Without doing some sort of testing it would be challenging to know when that is. I would think that for drag racing, where you spend a lot of time sitting in staging lanes, it would be a good way to keep temps down, but then so would opening your bonnet
Also I'd imagine that raising the back edge of the bonnet would slightly alter the aerodynamics around that area, as you'd expect some detachment/turbulence, so whether it remains a high pressure zone having had the bonnet lifted would also be difficult to say without doing some sort of testing/analysis