Well, I suppose.
The only pics I've seen of LSW wearing them are the ones from when he was really old. Where he is in the full black outfit, with the armbands and the super wide belt.
It doesn't show him wearing any in any of the illustrations in the books he wrote, though it does show him wearing what appears to be either an iron ring or perhaps what could be a jade bracelet.
Considering he is doing kungfu in his own books, I am not so certain that it is a jade bracelet.
As for bracers, they were actually quite common gear amongst bowmen and swordsmen of a wide variety of national armies both chinese and non chinese.
A standard thing to wear. Usually a bowman would only wear one bracer on the arm that held the bow. But swordsmen wore them on both arms.
Anyway, it's not important. They are bracers and they are handy dandy for swordwork and archery. They keep the wrist firm as well and the studs add to the sword strike the leather strap could take.
I am not certain they are only found in Hung Gar of Lam Jo family, I am pretty certain I have seen the Chiu's wearing them in the occasional pic.
cheers