There is two ways to verify if what you say is correct:
1) If you open task manager and add 'UAC Virtualization' column to it, then you see that when LaunchNet7.exe is started as admin, every process started from launcher after that (e&bconfig, proxy, client) inherits the column value.
2) LauncherNet7 has 'Tool -> E&BConfig' options, so you can use E&BConfig to determine which registry entry is written when LauncherNet7 is running as admin or as normal user and e&bconfig.exe does not have any box ticked (ie, winxp compat or admin). You can then use e&bconfig.exe without launcher to verify.
However, running LauncherNet7 as user and having admin box ticked for e&bconfig.exe does run e&bconfig.exe as admin.