No, Selleys Kwik Grip isn't tape. By the sounds of it it's similar to your Barge Contact Cement. Applied the exact same way as you mention. I cleaned and coated (thin layer) the exposed board, foam and edges. Let dry and then applied foam back firmly. Seemed to work a treat. Used the board about 30 hours later but the pad just peeled off. In fact I lost the small section of padding so can no longer glue it back.
The tears occurred under only the balls of my feet on the back pads, both sides. If it gets any worse I'm going to have to remove and replace the padding I think. Looks like replacement pads are not available from Starboard so may have to shop around for something suitable.
It's frustrating as it's a brand new board. Wasn't an issue with my previous 09 Futura.
Link to Kwik Grip.
Thanks again Mike for your reply!