It does. That feature may only work on Limbo mobs at present though. Insured but, it definitely does work for GIs in Limbo now. The special spells the given mob take appear over the mob in floating text.
It works on all mobs, but only for spells where the vulnerability would not be obvious given typical game mechanics. Specifically, it looks for a Spell Vulnerability variable on the creature that flags custom behavior in response.