It does, definitely! But it doesn't work in the Dead Zone for some reason. It doesn't eject my inventory or anything, but I can't access it. Which is too bad, it would come in really handy out there.

[Ding! The elevator lets out into the lobby, and Aradia flutters over to the base of Terrere Tower, where the room with her nameplate is. But when she opens the door, there's nothing inside the room except a transportalizer pad.]