Just to be clear.... you're not talking about any nitrous going into the engine correct? You're specifically using it to cool the intake charge by blasting the intercooler or some other part of the intake system?
Assuming this is what you're plan is then yes the IAT will adjust according to the air temperatures. BUT, the stock sensor is known to be very slow reacting. If you have an open element sensor such as the one being discussed in the 3rd gen section, link follows (
http://rotarycarclub.com/rotary_foru...ead.php?t=8381) then it will work quite well with a setup like this. If you're running the stock sensor then your fuel maps will either be too lean, or overly rich once the sensor reacts to the air temperature change. If you don't have the fast reacting sensor then I can get one for you.
Now if you're talking about spraying the intake with nitrous, such as the air filter or something. The nitrous will go into the engine and if you don't add fuel you're engine will blow that instant. Spraying the air filter with nitrous would be the same as injecting it into the elbow or whatever. In which case you're better off injecting it into the elbow. Hope this helps. Let me know if you need a fast reacting IAT.