Yes it does. I used it after 1.10. If no changes are made in the database it will be useful as is for long time. Do not worry.
Bear in mind that if you use it for copying vessels for a scenario that has its own custom devices and blocks, various of them might be replaced with other types or even empty ones i.e. a new generator from v1.x of the scenario might be replaced with a heavy window on a save started with a v2.x of the same scenario.So in this case you might end with a missing generator in the target save game. Same goes for copying vessels between vanilla saves and scenarios' saves. Always do an inventory of the devices of your vessels as well as the cargo you might carry between the copy.
One thing I noticed but forgot to mention is that although the copied vessel might have the devices messed, if you spawn the same blueprint on the new save game you want to transfer then the devices seem to be in place. I have not tested thoroughly though. Maybe @byo13 have some idea why this happens...
