My calculator symbolically evaluates that limit to 1...
There's a more obvious counterexample:
<br />
\lim_{x \rightarrow 0} 0^x = 0<br />.
The whole thing about 0^0 depends precisely what ^ means. As an operation on real numbers, 0^0 is
undefined. The reason is that (0, 0) is not in the domain of ^.
Okay, so you want the "philosophical" reason.

A crucial property about real operations is that they're
continuous within their domain.
However, ^ cannot be continuous at (0, 0) -- the classic examples demonstrating this fact are 0^x --> 0 and x^0 --> 1 as x --> 0.
However, there are other meanings to ^. For example, there's a definition of ^ that means repeated multiplication. The empty product is, by definition, 1, so anything to the zero-th power is equal to 1. In polynomials and power series, this definition is what ^ "really" means -- that's why one uses 0^0 = 1.