Yes the software automatically compensates, and I presume the different presets make different corrections depending on the variations in orange base colour between one make of film and another.
But the original sensor will still see the colour cast, so the usable range of bits that contain image (as opposed to mask) will be reduced. Unless the analogue gain of one channel is increased before it is digitised to the normal 8 bits per pixel per colour.
I've always wanted to try out something I read in a novel (Reflex by Dick Francis) in which a photographer stored secret handwritten lists by photographing them with a strong blue filter onto negative film. This produced a yellow image in negative which was hidden by the orange mask and so looked like developed but unexposed film - until you print it (or scan it) with a strong blue filter onto contrasty paper (or increase the digital contrast). That book was written long before computer scanners were an everyday domestic appliance. I should have tried it while I still had a film camera, colour neg film and an enlarger, with a couple of blue daylight/artificial converter filters stacked (or even some blue transparent gel)