If you look closely at the shields, you can see that they cover the entire top of the camera, and are spaced away from the actual camera body. That spacing allows air to circulate between the shade and the camera case so any heat absorbed by the shade isn't directly transferred into the camera. And being painted white, they reflect the sunlight well on top, and have low emissivity on the bottom to reduce re-radiating any heat towards the camera body, which is also white to reduce its ability to absorb any IR that might get to it.
I think the very tips of the shades may shield the lens to some extent, but shading the whole camera with a separated shield is a really great way to keep the camera cool.
Mounting cameras under eaves is nice, but those that must be exposed to direct sunlight get very hot without some sort of shade. Pretty neat!