No. What Ogreman's talking about is the latteral (left-right) compensation of the laser sighting. I.e. the laser is looking straight ahead, and the missile is fired parallel to the airframe, so theoretically it will never intercept the laser (read: THEORETICALLY). To compensate, the nose is pointed slightly left/right to get the missile into the track.
So if you are firing from the LEFT wing you maneouvre the nose RIGHT, and vica versa. The HUD indication for this is seriously overdone I think, unless someone can provide proof it's correct :)