The real point is diocesesan promotion of this practice, and if a diocese is promoting it, they are violating rulings by the Holy See raised in Doubts/Questions posed to the Holy See by proper authority. I could speak about the Diocese of Metuchen from years gone by, but the words I would type would break forth into flame on your computer screen rendering it a total loss -- and I don't wish that on my friends.
But back to the matter at hand: Holding hands for the Paternoster is illicit. Period.
Here in St. Louis, the practice is not promoted, but being the land of the Jesuits, fads like this spread like wildfire.
Me? I follow the veiled sisters' example. They stand with their heads slightly bowed, their hands at their waists before them with their fingers laced. It's very moving and solemn to see.