HCBT_MOVESIZE is not triggered as the user moves the window around the screen. Instead it will be triggered when the user releases the mouse button.
So, at least on normal systems set to show window content while dragging, the description "a window is about to be moved or sized" does not mean what you'd expect from the behaviour of other window-movement/sizing messages in Win32.
If you return 1 in response to HCBT_MOVESIZE then the window can/will still be moved, but when the user releases the mouse button it will then jump back to where it was before they started moving it.