Yep still does the same thing.. only way it doesn't, is if I briefly, very briefly, just lightly tap a direction to move. And I move a small bit, but fast..
but if trying to run from being PKed, to avoid item loss, it will likely be useless. As most people that are out hunting/PKing, have stupid fast mounts & gear. So only being able to move a short distance, but very fast, will just mean that they will take a few seconds longer to kill you.
If we were able to actually hold a direction fully while mod is enabled, without disappearing and making game lock up then it would be far more useful. As it is, least IMO, it is too fast.