No it is not.. The purpose for this patch blocker, was just to enable users of mw2 to use current glitches and exploits in the game without having to update, which would most likley disable them. whether this works with other games or not remains to be seen.
This seems to be for stopping patches for ps3 games so you can still pay them online. But i really don't understand how it could be used on a non-jailbroken ps3. Maybe it could be useful sometime in the future, when the jailbreak can work on newer firmware.