What do you know, it sure does.
Oddly, Both Windows 7 and 8 will let me move an open file, but if I then make further edits to that file and save it, it saves a whole new file in the original location... that behavior doesn't really make much sense to me, but i guess it would allow for incremental changes/backups. Not sure most people would get much use out of that but it's better than just saying "NO YOU CAN'T MOVE THAT"