Yes, assuming it works as well as the Accelero S1 (safe bet). It has a higher profile than the stock cooler though (Crossfire on mobos with tightly packed PCIe slots might be a bother) and it throws the heat into the case so you need good airflow.
Also, if you buy it separately instead of with this Force3d card you have to put on ram/VRM sinks ... and some people always manage to get those things not to stick well and fall off, of course some people are incompetent too so your mileage may vary.