Theoretical predictions by Farebrother et al. and Meijer et al. of rovibrational excitation probabilities in H2 arising from formation by Eley-Rideal processes on a graphite surface are incorporated into a model of the chemistry and excitation of interstellar H2. The model includes the usual radiative and collisional pumping of H2 rotational and vibrational states, in addition to the formation processes. Predictions are made for H2 rovibrational emission line intensities for representative points in diffuse and in dark interstellar clouds. We find that - if all the interstellar H2 is formed by this Eley-Rideal process - then the consequences of formation pumping, as distinct from collisional and radiative pumping, should be clearly evident in both cases. In particular, we predict a clear spectral signature of this direct H2 formation process on graphite, distinct from radiative and collisional pumping; this signature should be evident in both diffuse and dark clouds; but the emissivity for dark clouds is predicted to be some 500 times greater than that in diffuse clouds in which the dense material may be embedded. An observational search for this signature in two dark cloud sources was made, but a preliminary analysis of the data did not yield a detection. The implications of and possible reasons for this preliminary conclusion are discussed.