Yep, sure is.  It arrived with Firmware version 1.40 - the most recent.   It is an improved Noise gate with better controls, particularly good for high gain tones.  to quote Meambobbo (a prominent forum contributor):

Sure. Open threshold is the signal level fed to the gate required to make the gate open and let sound pass through. Once it opens. It won't begin to close until the signal level dips below the close threshold. Hold time is how long the gate will wait before closing once the close threshold is met. And decay is how quick the signal will drop from its current level to silence. So you want the open threshold higher than than the close threshold and if you want it super quick and punchy set hold time and decay to 0. I like to increase decay up to 500-1000ms in normal circumstances just to make the transition a bit more natural.

 

And to really maximize what you want play with open close settings. You want the open high enough so that you can trigger it with the softest note you intend to play but not random noise or random times your fingers touch the strings. Set close low enough so that your notes sustain for as long as you want but you can easily close the gate by muting the guitar.