I've seen the "adhesive didn't stick to the foam" issue with several different weatherstrips when trying to stop water leaks on different cars - after a while the foam seems to draw up, and leaves a sticky mess.
Still, I like the idea. Every little bit helps when looking for ultimate mpg, even if one particular idea doesn't show a measureable gain.
Hey, I just remembered something! Use something like a trunk lid or door weatherstrip. Maybe a piece of door w'strip or lip seal off an old car. Most of those are better with heat, and won't draw up. It'll look more professional, too. Rub silicone on the "face" to keep it from being pulled by whatever contacts it. I can't remember if the yellow or black w'strip adhesive works best, but maybe one of you guys do.