Nipping off the buds would encourage the roots to grow, but I don't think it would have any effect on foliage. I personally never have the heart to nip buds.
I hope the Bayer doesn't cause any problems for you, or I hope you at least didn't use it at full strength. Fertilizing a newly planted rose is not a good idea. Newly planted roses can have tender roots that get burned by fertilizer.
