This is generally true. The fuel calculations are made only on the signals from the upstream sensors - the ones above the pre-cat if they were in place. When a downstream sensor is out, the vehicle will pretty much ignore it. It uses those downstream sensors to ensure that the cat is functioning as expected. Mostly.
True as far as fuel calculations, but most vehicles will throw a cat inefficiency code. Since the OP only has a heater circuit code my guess is his Jeep came without those cats as mentioned by other posters.
