It’s not clear to me whether Žižek is properly interpreting Hegel, mostly because I find both Žižek and early Hegel incomprehensible. Z's been accused of mis-reading Hegel, and of being a self-contradicting crypto-anti-semitic charlatan to boot. (Which is a bomb I can't drop without immediately providing Z's own self-defense.)
Maybe Žižek's a fraud; maybe he just angers the intellectually insipid. I think vehement criticism is the inevitable price you pay when you don't try to make yourself understood. But I'll reserve judgement, as I haven’t read the necessary syllabus to decipher him. But I’ll give him this: he’s more disarming and affable than I expected, and his lectures are more fun (sometimes in a NSFW way) than most.