It definitely is, I just recently did a show where we were using timecode. I was relatively new to using timecode and one of the biggest hurdles that I had was realizing that the cuelist must be "running" in order for it to respond to timecode. so either it's received a manual go from an operator or comment macro from another cue list or you have a never-ending wait time on the last cue so the cue list will always be listening for timecode. Look at this thread as well, it has some good info as well.
