They are almost invariably implemented by tapping the speaker amps through a resistor, which makes them quite load-sensitive (I've seen anywhere from 100ohms to 400ohm output resistors, so the effect will vary). For high-impedance headphones, this will likely be benign (older headphone designs were probably intended for such usage). For low-impedance headphones, you may get pretty large frequency response shifts, and you will lose a lot of power to the resistor (though since it's running off a speaker amp, it will likely still be adequate).