Yes they do, that is the only way to do the view count. Think about this a second. What type of computer would you need to load 1000+ API’s at once just to load the Java API for chat, Not much really. All you would need is the memory.
Now how good of a computer would you have to have in order to load 1000’s of API’s for the video, that is IF the view count was based upon actual video users? Move over Watson, I have a 1000 computers in my bedroom. Not to be an ass about it, but it would physically not be possible. You could hijack a 1000 computers, log into their twitch account, load up the API for the video, and view a certain channel. The chances of this are probably smaller than the previous one.
So the way twitch is using the view counter, grabbing it from IRC users in your channel, seems more like what is happening. Please a twitch programmer notice this and correct me if I am wrong. I am trying to combat these assholes that are ruining a good thing.