For the curious, the whole engine rests on the Kubelka–Munk model and three short equations, applied at every wavelength across the spectrum.
1. From a measured swatch to a fingerprint. A reflectance reading R becomes the pigment's absorption-to-scattering ratio:
K/S =(1 − R)²2R
K is how strongly it absorbs light; S how strongly it scatters.
2. Mixing. Combine pigments by adding their absorption and scattering, each weighted by its concentration c in the blend:
Kmix = Σ ciKi·Smix = Σ ciSi
This is the step a 'blend the pixels' tool skips.
3. Back to a color. Turn the mixed ratio into the reflectance of an opaque film:
R∞ = 1 + (K/S) − √ (K/S)² + 2(K/S)
Then fold that spectrum through daylight and the eye's response to get L*a*b*, and then ΔE, the distance between two colors.
That last conversion, from spectrum to CIE XYZ to L*a*b*, is standard colorimetry under a chosen light (we use daylight, D65). ΔE is just the distance between two points in that L*a*b* space: roughly 1 is the smallest difference a trained eye can catch. On a paint set we measured end to end ourselves, our mixed colors land within about ΔE 3 of the real swatch, cross-validated, and close to the error you'd introduce mixing by hand.