Yes and no, the HF2 unlike any other camera on the market had an adjustable Flash Output setting. You can have the IR set on Low, Medium, or High depending on the location you are using the camera. The unit has an IR filter over the flash array as the HC600 had in the past.
Thus, if you want it fully covert run the camera in the low or medium flash output setting. This will make it less detectable to people or game. However if want the fully 150' flash distance (say on field edge or over a food plot) you can run the IR Flash Output on High. In High you will see a slight red transition on the face of the unit, but honestly if you mount the camera slightly higher on the tree (above line of sight) or camouflage it well, you will not experience any detection issues. The wavelength of light used in these is comparable to your HC-600 cameras you've returned previously for upgrades.