As far as I know, yes. And I will admit, after owning several Moultries I've never once used this feature. My other cameras all have "test" modes with a small light that lights up when triggered, and I don't really use that either come to think of it. I've had pretty good success with eyeballing it, considering the areas I set up on are relatively close and the camera covers a good wide range.
I use the feature everytime I set my cameras.... If I place my camera 12-14 feet from my designated target area and have the laser hit my pants on the bottom of my zipper, I will get a close up photo of my target and will have a full frame photo of the deer with nothing cut off no matter if it's head is up or down.