It does work, but it acts a little strange.
I had one working for about a year on HE but then decided to update the firmware on my Hue hub. So after resetting, updating and resetting again I found that the Smart Button would pair to HE (then seem to reset itself??), not respond properly, report varying battery levels but then... somehow everything sorted itself out and it's been working properly again for a couple months. 
- endpointId: 01
- model: ROM001
- application: 02
- firmwareMT: 100B-0116-02002F08
- softwareBuild: 02002F08
- manufacturer: Signify Netherlands B.V.
