Refer to this table:
http://www.gamefaqs.com/pc/562656-might-and-magic-book-one/faqs/36617

I've done some hex-spelunking too. Each monster has an array of 32 bytes. Byte 28 seems to correspond to Bonus On Touch and Inflict Status.
A value of 0 corresponds to No bonus, no inflict.
A value of 4 to 25 corresponds to Yes bonus, and an inflict depending on the value.

The rest of the monsters, and there's 86 of them, have a value of 129 or greater. All of these have Yes to Bonus on Touch, but no inflict. So in these cases, what does Bonus on Touch actually mean? And what does the value mean?

In addition to inflicting some status, some monsters may also steal gold, steal gems, steal food, drain mana and perhaps more. I don't remember if all these were in MM1 or only MM2, though.