I believe the answer is no to both. The magical bonus on rmor is an enhancement bonus. It adds to another bonus, in this case the armor bonus. This means that a +2 leather armor, has a +4 armor bonus. Since touch attack ignore armor, it ignores all 4 points.
As for bracers of Armor, it is an armor bonus, so it is also not included in your touch AC.
The in-game explanation, is that a touch spell, for example need to touch any part of you, including your armor. Even if you armor is being enhansed, Touching it still triggers the spell (or other touch effect). If you have bracers of armor, then touching the armor of the bracers is just like touching normal armor., setting off the effect.