We use a publicly available numerical wave-propagation simulation of Hartlep et al. 2011 to test the ability of helioseismic holography to detect signatures of a compact, fully submerged, 5% sound-speed perturbation placed at a depth of 50 Mm within a solar model. We find that helioseismic holography as employed in a nominal "lateral-vantage" or "deep-focus" geometry employing quadrants of an annular pupil is capable of detecting and characterizing the perturbation. A number of tests of the methodology, including the use of a plane-parallel approximation, the definition of travel-time shifts, the use of different phase-speed filters, and changes to the pupils, are also performed. It is found that travel-time shifts made using Gabor-wavelet fitting are essentially identical to those derived from the phase of the Fourier transform of the cross-covariance functions. The errors in travel-time shifts caused by the plane-parallel approximation can be minimized to less than a second for the depths and fields of view considered here. Based on the measured strength of the mean travel-time signal of the perturbation, no substantial improvement in sensitivity is produced by varying the analysis procedure from the nominal methodology in conformance with expectations. The measured travel-time shifts are essentially unchanged by varying the profile of the phase-speed filter or omitting the filter entirely. The method remains maximally sensitive when applied with pupils that are wide quadrants, as opposed to narrower quadrants or with pupils composed of smaller arcs. We discuss the significance of these results for the recent controversy regarding suspected pre-emergence signatures of active regions.