As I have seen it done, they search entire books. Versification is a relatively modern convention. It probably so happened that the coincidence claimed landed in those two verses.
Now with Mitt being a Mormon, it is a world too strange for me to fathom. I can tell you about Judaism and about small-o orthodox Christianity. But the Mormons have so many supplemental texts, and allegations swirl that I have no way of fathoming. I don’t regard them as small-o orthodox Christian, though.
The entirety is searched by the program, yes, but a range of skip sequence is specified, primarily lower numbers since it’s believed that lower skip sequence indicates a higher significance for any nformation contained therein. Speed has been a limitation too, but that is increasingly not a consideration.
Regarding the two verses in question, applied to the potential Presidency of Mitt Romney as implied by those verses being the surface text of a “matrix” dealing with the matter, it appears that Romney will be President if he follows the commandments of God, not veering away from them and certainly not following other strange gods.
It’s really quite striking if you think about it.