The app knows the difference between screen colour and print colour: RGB, CMYK, greyscale and named spot inks with their tints. A document opens in the colour mode it was made in, and the Swatches palette offers colours in that system.
The Separations palette lists every printing plate the document actually uses — cyan, magenta, yellow, black and each spot ink — with an eye toggle per plate, so you can preview the plates one at a time or in any combination.