Yes, it could be that way.
I've tried with some test tunes, recorded to tune subwoofers, and the results are that anna-vu only responds to low frequencies...
One of the tests goes from 20 Hz to 20 khz in an oscilaing wave, always at the same Db level. With other visual (spectrolog128) I can see the line going from left to right always at the same level, crossing the screen.
With this tune, at the beginning (low freq.) the gauges of anna-vu moves near 0 Db mark, then they fade out as the freq. increases.
It seems to use the 'beat detection' system as you said.
My old-style pioneer cassette deck, with analogue vu-meters, seems to listen to all the audible range... maybe anna-vu uses a peakmeter instead of the traditional system?
Even being that not so real, I like how fast and responsive it is.
Thanks:
Miguel.
Spain.
Desesperatly waiting for a tuner module #74...
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60Gb blue MKIIa +PCATS tuner on a Seat León 20vt FR