Sure. It's actually quite easy to demonstrate and anyone could quickly assemble a test scene to check things out.
Let's take a UV-mapped plane to act as a test surface and a plane with half of a sphere to be baked down to a normal map. See the first image for a visual clue.
Place both objects into the Keyshot scene and locate them side by side for a visual reference. Make a lighting environment with a single light source located at the top (around 45-60 degrees above the horizon), so it will cast a highlight on the top-left corner of the high-poly sphere.
Bake down three normal maps. One as X+ Y+ Z+ (OpenGL, the most common one), one as X+ Y- Z+ (DirectX, less common), the last one as X- Y- Z+ (uncommon). Apply them to the test surface and check results. With a correct normal map, highlights and shades locations on the test surface should match the source mesh (plane with half of the sphere). Only the last normal map (X- Y- Z+) produce such a result.
This means that Keyshot is using an uncommon normal map format. If that's the case, it means that the vast majority of Keyshot users were (most likely) rendering their normal maps incorrectly.
I've made a quick check and it seems that normal maps bundled with the Keyshot are actually using the correct format, so this concerns primarily normal maps originating elsewhere.