i don't see how that 'system' would work.
however i have seen other stuff that includes touchup paint and a special compound that levels and blends it with the rest of the paint. seemed to work, but i can't remember who makes it. you also need to pick up a sanding pen to clean the chips before putting paint down, or else you just get a rusting, bubbly mess.
i don't know that anything is going to fix your hood, though. either you tailgate dumptrucks daily, or your hood doesn't have factory paint. usually you see that effect when something was done with low quality paint that didn't harden properly.