I have tested the new ColorMunki software with Lion (10.7.5) and it is now printing accurate targets direct from the software. I think we can safely say that Mac users can now abandon the tedious and convoluted workaround, and that the problem of printing accurate targets appears now have been resolved.
There are, however, three subplots of some interest.
The first is that the second target, said by X-Rite to derive iteratively from measurements of the first, is quite different in the new software from the old. The old target-print featured mainly skin tones along with shades of brown and green. The new second target-print has a wide range of colours but still includes some skin tones.
Secondly, the new software/target combination seems to produce much better profiles in that it gives a pleasing rendition of colours from only two targets. Previously I have found it necessary to make at least a third iteration with a target derived from skin tones before a satisfactory (to my eyes) print can be made using the ColorMunki created profile.
Which gives rise an oddity. Under the old software/target combination creating the third iteration of the profile always seem to give rise to a significant increase in its volume – as observed using the ColorSync Utility. This is not the case with the new 1.2.X version of the software which only makes small changes to the shape and volume of the profile. The volume of profiles created with the new software is of similar volume to those created in the first iterations under the old software.
What now seems to be the case is that the new software is an improvement on the old in more ways than one. I will see how this plays out over the next few months as I re-profile all my paper/printer combinations.