As P. Barrie mentioned, Pigment ID numbers represent only a rough indication of the actual color. The pigment Identification Number is, well,......the identification of the PIGMENT, and not necessarily the color. As someone mentioned, PR108 represents many different colors, even though the pigment identification number identifies it as a cadmium pigment.
Cad Red Light, Cad Red Medium, and Cad Red Deep are each a different color, but do have the same Pigment ID Number. The color that is created from such a pigment is totally dependent upon the method in which that pigment is processed.
However, Pigment ID Numbers can't always compete against paint color names, when it comes to confusing the artist. For example there is a color called "Cinnebar", which sometimes represents a "RED", and sometimes represents a "GREEN". Or, in the case of Old Holland, who names many of their colors after the towns which made them famous, such as "Scheveningen Blue". Only Old Holland, and God would know the actual color of this paint, if it were not for the pigment ID number.
While not totally accurate at identifying the color of the paint, Pigment ID's are, in fact, usually a rather good indicator. And, MUCH better than the names that the manufacturers tack on to the labels.