No, this is not valid Pronto Hex.  As you've suggested it describes a signal that has no on durations.  I don't know why, but this site has a number of instances of these invalid codes in which every second group of 4 digits is set to zero.

I recognize the intended IR signal; it is NEC1, device 131.85 function 144.  Many Epson projectors use NEC2 131.85, and function 144 is Power On.  NEC1 and NEC2 are different only in the way they repeat-- NEC1 uses a ditto, while NEC2 simply re-sends the entire signal to generate a repeat, so NEC1 will typically work even with a device that expects a NEC2 signal.  Here's the NEC1 signal with the frequency set to the standard set by NEC  (455KHz/12) and the correct 564 uSec basic time.
0000 006C 0022 0002 015B 00AD 0016 0041 0016 0041 0016 0016 0016 0016 0016 0016 0016 0016 0016 0016 0016 0041 0016 0041 0016 0016 0016 0041 0016 0016 0016 0041 0016 0016 0016 0041 0016 0016 0016 0016 0016 0016 0016 0016 0016 0016 0016 0041 0016 0016 0016 0016 0016 0041 0016 0041 0016 0041 0016 0041 0016 0041 0016 0016 0016 0041 0016 0041 0016 0016 0016 0622 015B 0057 0016 0E6C

Here's the NEC2 signal that the Epson projector is designed to use:
0000 006C 0000 0022 015B 00AD 0016 0041 0016 0041 0016 0016 0016 0016 0016 0016 0016 0016 0016 0016 0016 0041 0016 0041 0016 0016 0016 0041 0016 0016 0016 0041 0016 0016 0016 0041 0016 0016 0016 0016 0016 0016 0016 0016 0016 0016 0016 0041 0016 0016 0016 0016 0016 0041 0016 0041 0016 0041 0016 0041 0016 0041 0016 0016 0016 0041 0016 0041 0016 0016 0016 0622
I used IrMaster to generate the signals.  Epson codes are available at e.g. [Link: hifi-remote.com].  Read these JP1 files using RemoteMaster.