No, not likely. It has a zero timing mode, but doesn't give any indication that it is in that mode. As received by the customer it has some timing in the program. It causes some problems at clubs as it has a clear advantage over 'proper' blinky speedos.
We've has some queries on it and I am grateful to a couple of the regular racers with the right kit for confirming this situation. This speedo can always be updated by the manufacturer to comply with the ROAR/BRCA rules (see any set of the current 12th or GT12 rules for the details) and then be submitted for approval. HTH