Ok, I've continued my research (since it's nap time anyway)

And, I am able to access the Target Huggies coupon on the Huggies website. It does seem strange that a Target coupon would be on the Huggies website, but it definitely is the Huggies website.

Through here: http://www.huggieshappybaby.com/offers/target/BannerCoupon.aspx

http://www.huggieshappybaby.com is the site that I was lead to by going straight through the US portal of Huggies.com

Hot Coupon World is the only place I've seen questioning the legitimacy. They say that they are currently trying to clear it as legitimate.