As said, most monoterpenes at commonly achieved concentrations have either no (= no scientifically proven) or many weak unspecific effects. This makes them difficult to study and understand, let alone predict something. It's much like TCM... a mixture impossible (at least with current knowledge) to delineate. There are, for some ingredients, rational reasons to be found but usually, it's just a weird mixture developed by trial and error during more than thousand years.OO should be able to tell us a lot about the effects of different terpenes; Germany is a decade ahead in this field and has the best doping doctors.
Some of these concoctions are certainly similar to folk medicine in the Middle Ages, others have changed because two different plants had the same name, some ingredients are simply there because someone liked them, because they hadn't anything better, of just because... and then, there are the toxic ones, those having already a dozen effects on their own, and others which serve to equilibrate yin and yang or whatever spiritual meridian.
So, no, I'm no advocate for monoterpenes beyond their nice smells and aromas
Besides, I don't get your association of me with Germany and doping doctors???
BTW, there's a reason for licorice having said effects and they have absolutely nothing to do with cannabis.