As a Mr M Gaddafi, lately of Tripoli found out, fast jets, armed drones and helicopter gunships will nail any conventional force vehicles they can see, if allowed to operate with impugnity overhead.
I imagine that the guys bringing death from above would be using the mark one eyeball in conjunction with the thermal imaging on the targeting systems to visually locate and identify a target, then ruin its day.
May not be so good against millimetric radar though....Here's a Swedish newspaper link with a few snaps of a CV90 with some slapped on the side and the effect. http://www.nyteknik.se/nyheter/fordon_motor/bilar/article3246446.ece
Would it affect the armour....no.
It may have an effect on the suspension and the wallet, based on the weight and the cost.
(zips up kagool)