Your assumption was correct. The car was not only indicating 0 boost, it was making 0 boost.
It turns out to be a problem with the bypass valve. Kinda like a wastegate but not. It equalizes the pressure in the SC under light load conditions, reducing the amount of drag it creates. Its a dual port actuator. In the normal state it goes to the boost (closed) position. The top port is connected to the throttle body and when there is vacuum (under light throttle) the valve opens (bypass). As vacuum drops the spring in the actuator pulls to the closed position.
There is a second port on the actuator that is connected to the side of the supercharger. I am assuming that this port will show boost. When connected the bypass valve will open under boost, when disconnected the car will build boost normally (bypass valve closes). There is an electric solenoid in line with this port, that I assume is bad since it will pass boost to the bypass actuator.I think this is a way of controlling boost, but haven't found any information yet. Also, at idle there is vacuum on the port that will counteract the first port and pull the actuator (and bypass valve)closed. If I tap on the solenoid, the actuator will return to its proper position.
Chris