KTuner.com

From what I have been able to gather, LAM. ADJ is a value that is meant to reflect the actual AFR on older Hondas using the factory wideband because it is known that they are inaccurate in certain situations. Is that correct?

Does the KTuner software actually look at that value for anything, or is it just for the user's info if they are tuning using the stock sensor? As in, if I wanted to tune the car to an actual 11.8 AFR, would I look at the delta between LAM.ADJ and LAM when LAM.ADJ is 11.8 (checked through some logs, LAM is 11.0 @ that point) and actually tune to target 11.0 because that is what the software is looking at? Or should I target 11.8 with the tune?

That is correct for applications like the 06-11 Civic.

It's just for your reference. The target you set should be what you see in AFR. The ADJ maybe the actual if your sensor is one that reads richer than reality.