I'm not sure if you fine folks have quashed this. There isn't an update on this question in the last year. However, it's not the "Name" of the key that is wielding the power (in this case).
Did anyone notice the Key's value?
I'm currently running build 17025 and it's 639bc8 (hexadecimal) or 6527944 (decimal). Unless you have a bit of background in hexadecimal editing or debugging code, I won't be able to speak at ANY level where the values become clear.
That said, Robert Clemenzi has a page that gives examples of other flags, their values they are usually found to be set to, and what it means. While he didn't directly speak about HideBasedOnVelocityId, his page does address this question.
Once you think you have gained understanding, please continue to read on, where he then explains that values can be combined and the final result is no longer 01 00 00 1, but expressed in HEX to "Disable file type editing" or "Disable the Details tab". Such as my value above for HideBasedOnVelocityId, which I expressed both ways it can be read. The Key Name itself, many times is a place holder that covers a "group" of attributes, and it's the value that essentially has all the attributes. HEX simplifies all the 4 bit entries into 1 lump sum (for us), instead of 8 characters per attribute. These are 32-bit DWORDS. I've not seen a 64-bit DWORD for Flags yet (I can't imagine needing that much memory space to hold a setting value); maybe next build! From our stand point, we want to achieve on or off. However, from your machine's standpoint, it means a bit more to do. At least with this question, if you aren't familiar with HEX, when you encounter flags with simple 4 bit values of 1's and 0's and others in HEX, you will know now, that a key's values may have many attributes than simply a binary value of on or off. But in some cases, just a Key with no value or adding a key with no value is enough to have an effect, as we know.
This is his page for reference.