Not exactly. If you are invisible then you can not been seen. If you use a invisibility spell the effects would not be permanently, if you have Chameleon at 100% then you are invisible constantly. Sneaking does not make you invisible only spells do make you invisible. You still have a chance of being detected. http://elderscrolls.wikia.com/wiki/Sneak_(Skyrim) I think the mechanics of ESO where it comes to stealth should work the same. It would be interesting to see the outcome of PVP if there will be a PVP arena the person who is using Chameleon would be invincible. They probably would not allow stealth in PVP but only in PVE.