Whoah! That Mac brings back some not necessarily good memories! We used those saws in the USFS back in the '70s and '80s. Back then, everything had to be purchased through the GSA catalog, which only listed tools and equipment made in USA--so saw choices were Mac and Homolite.
We used the bow bars for brush clearing and they're an equal mix of PITA and frightening.
PITA part is that the cut ends of brush always want to go right inside the open bow. The frightening part is that that thing is all tip--or all kick-back.
The holes in the bar are for mounting a spur that keeps the brush from just getting sucked back into the saw AND helps prevent kickback--a little. The spur is just that--maybe 6-8" long and pretty much parallel to the bottom of the bar. The other set of holes allows for flipping the bar.
The only tool I can recall disliking more than the bow bar was a Swedish Brush Axe. That's a D-frame like a bow saw, with a tensioned blade, mounted to the hatchet or axe handle by the back of the D--making it as unbalanced as possible. The handle was always trying to twist in hand, causing the damned thing to glance off in random directions.