Yes it does. After the filter is applied, only objects moving at the same frequency will show motion. They may or may not be directly attached to the object of interest. In addition, as the attached report shows, you can filter different videos for the same frequency to find sympathetic vibrations in other locations.

This video report from Stuart Walker with Reliability Maintenance Solutions Ltd an Authorized Reseller of the IRIS M System in the United Kingdom is an excellent example of how to use filters on multiple recordings to determine root cause of a problem.