Is LateUpdate() always called, even if the script is disabled in the Inspector?

The Unity Scripting documentation for MonoBehaviour reads:

Note: The checkbox for disabling a MonoBehavior (on the editor) will only prevent Start(), Awake(), Update(), FixedUpdate(), and OnGUI() from executing. If none of these functions are present, the checkbox is not displayed.

Also, on the same page, LateUpdate() is the only function that reads:

…if the Behaviour is enabled.

instead of…

…if the MonoBehaviour is enabled.

Does this mean that a script’s LateUpdate() still gets called, even if the script is disabled in the Inspector?

It’s not called when you disable it. Try it yourself:

import System;

private var frameCount : int = 0;

function LateUpdate () {
	Debug.Log("LateUpdate called "+System.DateTime.Now+" on frame "+frameCount.ToString());
	frameCount++;
}

function OnEnable () {
	Debug.Log("OnEnable called "+System.DateTime.Now+" on frame "+frameCount.ToString());
}

function OnDisable () {
	Debug.Log("OnDisable called "+System.DateTime.Now+" on frame "+frameCount.ToString());
}