No, definitely doesn't work, at least not the way I did it. Here's what I just did:

• loaded my S.E.Asian rectangular shield prop PP2 into DS3Adv (it automatically applies DS materials because I have a DSA materials preset with the same name as the PP2 in the same folder as the PP2)

• applied an alternate UV Map set via the surfaces tab, and checked that I could swap UVs between the default and alternate sets. That works fine

• saved a Materials preset DSA with all the materials for the shield in it. Checked the contents of the file and it looks promising...

DsActions.prototype.setMaterialProperties = function( oMaterial, oShape ){
    ...
    switch( sID ){
            case "Studs":
                ...
                g_oPresetHelper.setNumericProperty( "UV Set",  [ 0 ] );
                ...
                break;
            case "Handle":
                ...
                g_oPresetHelper.setNumericProperty( "UV Set",  [ 0 ] );
                ...
                break;
            case "Shield":
                ...
                g_oPresetHelper.setNumericProperty( "UV Set",  [ 1 ] );
                ...
                break;
            case "Back":
                ...
                g_oPresetHelper.setNumericProperty( "UV Set",  [ 0 ] );
                ...
                break;
        default:
            break
    }
}

• restarted DS3 and reloaded the same prop. Applied a different texture to it so I could easily see any change

• ran the DSA I'd just created. It changes the texture, but there's still only the default UV set in the surfaces tab, and it's definitely still using the default UV mapping

• tried loading the shield and applying the DSA in DS4 too - same thing, only the default UVs.

 

(need to rush off now - I'll check back later)

---

The 3Dcheapskate* occasionally posts sensible stuff. Usually by accident.
And it usually uses Poser 11, with units set to inches. Except when it's using Poser 6 or PP2014, or when its units are set to PNU.

*also available in ShareCG, DAZ, and HiveWire3D flavours (the DeviantArt and CGBytes flavour have been discontinued).