Christine Todd Whitman encourages Jon Huntsman to run as a 3rd party candidate — but wouldn't it hurt Obama?

Although Huntsman and Whitman are nominally Republicans, I can't read this without assuming their agenda is to help President Obama win reelection. If you're with me this far, then, consider whether they've got a good strategy. Would Huntsman, running as a 3d party candidate, draw more voters away from the Republican (presumably Romney) or from Obama? I'm picturing dissatisfied Democrats going for Huntsman in protest... people who feel that Obama has abandoned their segment of the "Obama Coalition." It's harder to picture voters who'd be thinking of voting for Romney who'd get the idea of switching to Huntsman. Why would anyone do that?