I think you are pretty much correct, Though it's certainly not suppressed on the 744 'cos I've watched this on the N/D (as heavy
) of the 744 a few times.
...what
seems to happen is that whilst the aircraft is firmly on the runway the wind speed is vaguely credible ( I guess it's just using IAS minus Inertial G/S to derive windspeed), however wind direction is pants, with the wind arrow showing direction from straight ahead, since aircraft heading equals track. However once the aircraft unsticks and weather cocks into wind then often as not Track no longer equals heading and the wind "arrow" slews quite rapidly around to the correct bearing.