I think it was granpabob that first mentioned it - he was the first with an Alpine unit with the actual prototype - he's since changed his username so I don't remember what to search under. He was also the first with a VX at Rubicon.
Here's one of many articles I found:
http://www.4x4offroads.com/4x4-vehic...-altitude.html
Here's a dialog about the altitude effect on gas mileage (on a Prius no less!):
http://www.intuitive.com/blog/toyota...elevation.html
I still don't know if the ECU compensates though. If the VX still feels sprightly to you where you live I'd say that it does adjust.
-- John