Yes, it does. It roughly doubles the distance. You'll look like an idiot and probably be cooking your eyeballs, but it does work.
Walk away from the car setting and unlocking as you go. At some point you'll be out of range. Look at the car, point the fob vertically, hold it touching just behind your lower jaw bone and see if the car still sets and unlocks.
Bet it does.
One problem is with the 30 second timer to open the door before it self-relocks. The increased operating distance might mean you'll have to run to get to the door in time. (slight exaggeration, but not by much)
How far does your remote lock/unlock function work?
update: About 200+ feet, while two stories up and looking through a window, all by using the 'brain fry' method. Sticking my arm and remote out that window and pointing it at the car does nothing.