IF the EQ system is anything like SNAP, then it probably doesn't measure in the time domain and do anything about ringing. Like most auto-EQ systems, SNAP attempts to flatten frequency repsonse.
From the Sherwood site:
An extension of the Automatic Speaker Setup routine that was added to these models late in 2004 as part of Newcastle's Field Upgrade program, SNAP first measures the frequency response of each of the 7.1 channels using sophisticated 1/12 octave amplitude mapping. According to Jeffrey Hipps, Sherwood's Sr. VP for Marketing and Product Planning, "1/12 octave measurements allow us to concentrate the highest accuracy on the frequency bands that can most benefit from equalization." For example, there are 24 measurement points in the bass area between 20 and 80 Hz. SNAP then uses up to 7 bands of parametric EQ per channel with both adjustable center frequency and "Q" to improve in-room system response.
It's measuring how loud the bass is, which will vary from seat to seat, instead of measuring decay time, while will be more consistent across the room. Psychoacoustically, small improvements in decay time have a much more beneficial effect on the overall perception of sound than large improvements in frequency repsonse.
Also, 1/12th octave is too coarse for measuring and correcting, especially when other room correction systems are down to .7 Hz precision.