Do we ultimately reach noon?
No.
What, in the context of this problem, could it possibly mean to ask if we ultimately reach noon? I suppose it's OK to say that if there were abstract observers looking at the counting process unfolding the same observers would still be there at noon. However, you say "we repeatedly wait half the remaining interval". So the question is whether "we", doing the counting by waiting half the remaining interval again and again, ad infinitum, will be counting anything at noon. I say no. This for the same reason that the sequence of times, as defined, does not reach 12:00. It gets closer and closer, as close as you want, but without reaching 12:00. Thus, what counting is done at 12:00 is not specified so we don't know what is the proportion of perfect squares at 12:00, except to say that before 12:00 it unambiguously tends towards zero as we get ever closer to 12:00.
I have to say this is also the maths I remember learning, or at least what I understood at the time, or remember understanding (and it was all theoretical maths, not applied). An infinite sequence of values (in French:
séries) may have a limit but the limit is not part of the sequence. So 12:00 is not part of the sequence of times obtained by always adding half of the remaining time to 12:00.