The first one wasn't present in consoles released in 2005 and 2006, but for a console released in late 2012, it should have been present.
The second sounds like a standard User Interface Guideline, those rules set in place to make sure software on a platform all looks and behaves consistently. And virtually all console devs, including Nintendo, played by overscan guidelines nicely until the Wii U. The guidelines they themselves probably set before in the past.
To be honest, I suspect this happened because they got so used to designing things right up to the edge for the Wii U GamePad, and forgot to make accommodations for the HD TV display. Especially when it's possible to switch between the two displays on the fly.
They really should update the console with a universal Overscan settings panel you're forced to do the first time you start up the console. (Or when the patch first installs on older units.) Set it once and be done, unless you change TVs, then you have to go into Options to readjust. None of this "per-game maybe it's there maybe not" stuff.