I just made 50 Ohio State "o"'s as candle matts for my daughters wedding reception and used insulbright so the heat of the candles would not melt the plastic tablecloths. I loved it and so did everyone else because after all the effort, I did not even get one to keep. Yes, it has a right and wrong side. The shiny side needs to go where the heat will be---if your pot holders are not protecting your hands, then you probably have the shiny silver side to the part that your hand touches.
We tested the candle holders with the matts I made and without on the plastic tablecloths and they really made a difference.