Yes, it will fix delays during demuxing. If it does then it will report it in the log. If there's no delay to fix then it will say nothing (as you've found).
The only exception is for TrueHD. I think this will have the delay value added to the filename if you demux it. I've never tried this - I always convert TrueHD to FLAC rather than demux, in which case the delay is applied.
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