It looks to me like it would, but only for one receiver. You would have to make sure that you had all DishPro equipment (i.e LNBs and capable receivers). You would need to buy an additional one of these switches for each box you wanted to add. It also says you can use it with a twin LNB. That may be true but I would be suspicious of that claim. Keep in mind though that I don't know much about what DishPro gear is capable of so perhaps someone else can clarify that point.
The DP44, when it is available, is supposed to allow four sats in to four separate outputs. Sounds like a better deal to me, especially if you are thinking of adding more equipment to your setup in the future.