I think it does... the only jam I've had to deal with in the last couple years was when I stopped on a grass strip to deal with a flat, and I apparently stepped on some mushy sort of cranberry looking thing. I ended up completely disassembling the cleat to clean it and lube it.

Disassembly was easy too because the screw heads weren't worn down to nothing.

I think speedplay really missed the boat by not designing something like this into their cleats... the metal cover plate is slippery to walk in and wears out to the point that removing it is challenging. I scratch my head about paying $25 for a cover to protect a $40 cleat but the walking benefits alone make it worth while.