Hello SOS1122, thanks for your question.
I do think honesty is the best policy for your first question. I know most – if not all – schools do a background check on their admitted students (sometimes this doesn’t happen until you’ve already started, but it does happen). I think a material difference between 40 and 80 hours is something that you would not want to be questioned about. You might explain the difference in the optional essay, but I’d go with the most accurate information in the application.
I would not feel bad about no awards post-college (I certainly didn’t have any either). Don’t feel discouraged by the lack of these things; rather, be confident in demonstrating the assets you bring to the table.
Best of luck!
mbaMission Insiders Guides: http://www.mbamission.com/guides.php?category=insiders
Free Consultation: http://www.mbamission.com/consult.php