I think the purpose of Q5/C8 is to turn Q4 on at startup. Once the system voltage gets to 9V (plus R9/C8 time delay) then Q5 turns on and lets the lockout system (Q4) work (no more current sourced through D5/6. Both capacitors will turn on slowly, and then, when one load opens, the Q4/C7 will delay the turnoff. I think the capacitors are there just in case there is a momentary dip in power so the whole system doesn't shutdown immediately, requires hard failure (loss of power for a certain amount of time). I don't think timing is critical. Q5 only turns off if system power drops below 9V, or at power off. So C8 (the 10uF) is really only used at startup, or 0V - 0.68V. If timing was critical, then they wouldn't use an electrolytic (-80 to +20% tolerance on a good day)
Putting a capacitor on a base/emitter junction is bad form, but I believe I remember reading somewhere in my foggy past that putting the capacitor on the base is like putting a much bigger cap on the collector... it uses the transistor's gain to amplify the capacitance (or looks like it's amplified). You could do the same thing, put a capacitor on the collector to hold the voltage constant (ish) when the transistor turns off/on, to slowly change that node's voltage, but you'd need a much larger one to do the same thing. I think they are just used to avoid spikes upsetting the system).