Dennett asks a related question: 'Would a being with a perfect physics and a perfect knowledge of microstates (and that sees the world in terms of microstates) recognize the existence of intentional explanations?' Again he concludes not, and argues that this shows that intentional states are real patterns that are not epistemologically reducible to lower-level explanations.
Ok, I'm just going to take Dennett's argument. The problem with it, from what I can see, is that it assumes that you can know what this perfect knowledge is. I would say that you cannot, and that Dennett's conclusions are not valid. I agree, as it happens, that intentional states are not reducible to lower-level explanations, but I don't agree with his path to that conclusion. I don't think it is at all obvious, given the level of possible knowledge that we have, how to conceive properly of a perfect knowledge and say what that perfect knowledge could be.
To take another thought experiment:
First a couple of working assumptions. Our consciousness (by which I mean the totality of the content of the model of reality that we construct and call our minds) is a simplification of 'reality'. It contains shapes, curves, solidity, a 'present' with various content, conforms to a Newtonian physics. We only have our little brains with which to model the universe, so we have to simplify, and we do so in a way that allows us to make our way through the world at our particular scale of existence.
Now, that which is modelled, that which causes the information that we take and use to run our models, is something of a very different order. We gain glimpses of that different order when we examine the very small, the very large or the very fast. It is an achievement in itself to be able to see that our models are not in fact what is 'out there' (and of course 'in here' as well – our models of ourselves conform to our models' simplifications).
Somehow, mysteriously to us, but no doubt because we are intentional beings, we have a point of view – there is something that is able to examine the model we run. That something is none other than us ourselves, and we wonder at how that can be. The nature of that wonder, and whether we are capable of resolving it, is another matter that I'll leave to one side.
So here comes the speculation about that which is modelled: the totality of existence, which contains among other things these simplified models of itself. We have no reason to believe or not to believe that it is also running, like us, as a model that examines itself. Modelling another level, itself one among many, who knows? But let us assume that it is as we are. What can it know about what is inside it? Can it 'see' us in here? Not while remaining a unified whole, no it cannot. (And similarly, we cannot know, if our consciousness is unified, whether or not there are smaller models of us running inside us.) To see the whole you need to be outside the whole. A system cannot fully understand itself, and this is where Godel's theorum about mathematical systems is relevant: the statement that is true but cannot be proved by the system cannot be eliminated.
So, to go back to Dennett's thought experiment, for it to work, the entity must have an existence that goes beyond our universe, an existence that we necessarily cannot imagine. And that invalidates any conclusion you might wish to draw – as we have no way of knowing what kind of understanding might be available to such a 'being'?