Is it possible to produce such design hints (on elements padding, spacing, width, height) automatically in photoshop? Is there any plugin that can potentially do this?
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You can't do that in pure Photoshop. But PNG Express extension can help you. PNG Express extension can layout your design specifications onto your design.
Looks like you can. I have not tried it yet (but I will) but specKing looks like it might fit the bill.
From their website:
specKing is a Photoshop plugin that provides tools to generate design specs and annotations
Take a look at: http://wuwacorp.com/specking/