Works exactly as described. Fun thing to know. I twobox with a hunter and priest so this was perfect to try out. It's not especially useful, the pet can;t attack and if I go out of range of the hunter the pet will disappear.
The hunter had to command it to protect me from anything, and after the fight it disappeared, he had to call it back, and it was leashed to him.
Still nice to know I can accessorize with whatever pet my hunter can find.
Amazing find, thanks for that!