No.
ALL checked VariableFalse events will be called when the VCEIfVariable statement is false.
ALL checked VariableTrue events will be called when the VCEIfVariable statement is true.
Not the new ones.
Here's some test events using VCE V5. When you click the brick, it tells you whether you're a super admin, a regular admin, or neither.
EVENTS 5
1 0 onActivate Self VCE_ifValue <var:cl:issuperadmin> 0 1 1 2
1 0 onVariableTrue Client CenterPrint You're the super admin. 2
1 0 onVariableFalse Self VCE_ifValue <var:cl:isadmin> 0 1 3 4
1 0 onVariableTrue Client CenterPrint You're an admin. 2
1 0 onVariableFalse Client CenterPrint You aren't a super admin or a normal admin. 4
If you have the event saver, download the attachment and put it in config > client > eventSaves.