Just a thought: If a former soldier, winner of the VC, becomes a World Champ, say at Veteran (pun unintentional but unavoidable) level, should they wear their medal on their rainbow jersey?
I (and JW) once met a former Veteran World Champion (65-69) when he was 71. He was wearing his rainbow jersey (the white bits not now as bright as they'd once been), but I didn't know who he was. He was of the right age to have served in WW2, but had been in a reserved occupation (thanks wiki), so I can't answer your conundrum.
[He asked if we could pass on a message, so I asked who I should say he was, at which point he looked at me incredulously, as if to say "you really don't know who I am?" then told us his name and left, at which point JW, somewhat older than me, nearly fell out of his chair, the veteran having been a hero of his in his youth.]