Yes, I agree with all that John has said. The system seems to take its trigger, from the speed limit the camera sees, and compare that to the speedometer reading.
It is known of course, that most speedos read 1 or perhaps 2 mph optimistic, as compared with the satnav reading, which means in practice the ‘bongs’ are going off at lower that actual speeds.
I guess most Mk4 drivers know that the ‘bong’ volume can be turned down, but not completely off, in settings.
Having said that seems to me, that the ‘bongs’ are preferable to vibrating steering wheels et al.