Only in a small way, it not a first line of attack, but when all else fails it works fine.
The brass is not a ferrous metal, at worse the plating on the brass may come off.
But when you have a rusted screw that will not come out you'll find this works very well.
A few years back I got a Patek in for repair that was forgotten in a fishing box for 10 years!
Ever plate screw in the movement was rusted solid! Did the vinegar thing and rotted out
all the screws.
With that done I was able to repair the movement.
Yes when I was done repairing the movement
Train wheels, setting wheels, balance etc.
the movement lost most of its plating ( that is it became a brass colored movement) but considering
Patek in NYC refused the repair it was a small price to pay to get the watch running again.