I think not.
I did some testing with exes found at malwaredomainlist.com. The results were as expected very dissapointing. Here is a screenshot of the results on an unpatched XP SP2 box. Can you spot the Rogue Antivirus. Lol! Anyway, the screenshot shows that even with 3 fakeAvs running, Immunet doesn't have a clue... not a peep.