That's right - no camera settings apply to a raw file except ISO. Otherwise a raw file is just the data recorded by the sensor, no more, no less.
ACR may or may not be able to read special camera settings from metadata - but the problem is that since the processing algorithms are entirely different, the parameters are undefined. It would just have to be an approximation, and that would only cause complaints and confusion. It's much better to drop them altogether - especially since you can produce the same effects in ACR yourself, and probably with better results.
In short, it's not worth the trouble.
White balance is a case in point. This setting is in fact read and honored by ACR, but the camera-set numbers would produce a different result because the processing engines are different. To achieve an equivalent visual result, the actual numbers may need to be shifted significantly.