No, I don't think it is. It just seems more prominent in INTPs because they have no real connection skills (except an adaptation of Ne) to fall back upon in their informal relationships with others, so they rely on a very weak form of Fe to begin with.
Since there's no real innate sense of how to connect on the emotional levels -- just the intellectual -- the easiest way to not flub up is to mirror what the other person is emoting.
But this has been examined outside of the MBTI. One book I've read deals with the "monitoring" capability in people, categorizing people for convenience into high monitors and low monitors.
High monitors implement the chameleon-like ability; they are constantly watching themselves and their actions from the outside and mirroring what is around them (or being who others expect them to be) in order to feel accepted. Low monitors don't seem to have the same ability or desire to look at themselves from the outside and monitor their behavior that way, tending instead to being simply "who they are" and forcing everyone else to deal with the conflicts/disparity.
Both types are highly visible in INTPs on various INTPs here and on MBTIc. So it's not just an INTP thing. It seems that those with more focus on Ti and less Ne seem to fit the "low monitor" category, while those more focused on Ne and less Ti seem to be higher brands of monitors.
Yes, low monitor is more common among individuals with high propensities towards introversion. Common among INs, especially INTs. More common among INTPs than INTJs because INTPs tend to have a more solid internal focus and identity. (Dominant Introverted Thinking)
Most INTPs better identify with the low monitor role, likely those with a low self-esteem (very few as well, as low self-esteem is rather rare among NTs, especially INTPs) would better identify with the high-monitor. This is because those with a high-monitor depend on external circumstances to build their identity (germane to the conventional sense Jung defined extroversion in--deriving identity from the outside), and likely depend on the ostensible approbation of others in order to feel good of themselves--this is germane to FJ, especially EFJ.
So, we can relate the low monitor persona to INTP and high to ESFJ. N is more adept for low because INs tend to do better with building identity from within than ISs.
I think that the definition of chameleon, as employed in this thread is sound. However, another way of thinking of it is the ability to adapt to external situations without incurring stress. (Js, especially SFJs have difficulty with this because change by virtue of itself brings about stress, and the more impersonal it is, the more difficult it will be). Yet, NTPs on the other hand cope much better, perhaps better than all types. This is because of their ability to see the big picture (N)--that by virtue of itself allows for them to be more comfortable adapting (they dont get hung up on experiences as guide for exploration of environment as sensors do), improvise better (P), and finally (T)--there will be more on the way of impersonal decisions to make than personal.
I dont mind improvising so long as I dont have to compromise my inner principles, in that case I just quit. The INTP descriptions that claimed how INTPs are easy going and adaptable most of the time, and yet this changes when their principles are violated were right on...
To answer the OP question. The chameleon aspect is most highly correlated with a Perceiving preference. NPs do it better than SPs because it is easier for them to juggle many ideas simultaneously because of their more powerful imaginations. So, to narrow it down, it is more of an NP factor than a general P. NTPs improvise better than NFPs because T is more adaptable. And ENTPs better than INTPs because they are less fanatical about guarding the integrity of their principles than INTPs.
And of course, on the low-high monitoring spectrum, I am on the radical end of the low monitoring type as my Ti is preponderous over my Ne, as this in part is the reason why my inner identity is sound and why my self-esteem is very high.
Though, as one correction to Jennifer, INTPs who identify better with the high-monitoring type are not influenced by Ne more than Ti in a way that ENTPs are. The case is that they lack self-esteem because they were unable to build a solid inner identity. They just use their Ne to float around, they cant feel at home in the external world by adapting the way that ENTPs can and certainly cant base their self-esteem in accordance to their external situation. They still use Ti more than Ne, yet much less efficiently than their low-monitoring counterparts. (Inefficiently because they tend to have less confidence in their Ti as they havent built a sound inner identity.)