I've corrected this monitor and you can hold a pantone swatch and it looks exactly like it should. And, yes, the Huey does compensate for lighting, but you can turn that off.
Thanks for the additional info Charlesh - I actually had purchased a Huey awhile back and never installed it because I didn't realize I could turn the feature off for lighting compensation.
I just knew it sometimes can be a nightmare trying to color match for printing and definately didn't need any variances on my side.

Thanks again for the correction!