The photos in question don't really work for me. I think it's because the subject matter is already strange and hard to grasp (for me) and the heavy gloss of effects puts antoher barrier between me and understanding what I'm looking at. Am I seeing a happy moment, or a melancholy one? It's all a bit off, so to speak, nothing to ground your emotion.
That said, I'm not against the Hipsamatic/Holga look at all. It's not fake, either, at least not more so than any black and white conversion from a colour digital image. Is ortho film more fake than panchromatic film? It is what it is. The Hipsta thing usually gives rather predictable and garish results - but so does, albeit in another way, Velvia, (IMHO). So, in the end, it's all about the context and intent with which you choose a particular method.
A couple of years ago, after I had first seen Tarkovsky's Polaroids on the web somewhere, I started experimenting with split toning and vignettes. Ultimately, this proved to be a dead end for me but I still have hundreds of these photos in my Lightroom catalog. Some of them look overcooked in retrospective but some I really like. Let me provide a few examples, if you will.
The effects are not as heavy as straight out of Hipstamatic but they're damn sure as fake as I could make them.
Like memories, nostalgic, all filtered and biased.