sky_coords is used only when extracting the cube faces from the blender environment map, though if you meant sky_suffix and sky_target, then yes, those two combined with the swizzle in the fragment shader do all the magic. However, it does make me wonder why certain faces aren't drawn mirrored. I do need to check that out properly (although I was careful when I wrote the code, this discussion has given me some doubts). At worst, I'll need to undo the negation in the sky_target array and introduce a negation in the skybox fragment shader.
Also, id skys and skyboxes use the same vertex shader. The differences between the sky vertex shader and the bsp vertex shader (walls and water) are just vertex color and surface and lightmap st extraction (wall/water) and direction vector setup (sky). While the sky vertex shader does transform the sky brush vertex, it's for shifting the origin to the camera and adding optional spin (try playing with the values where sky_velocity is set

)