No.

Closing a handle and changing the reference count are two different
things.

You might imagine a situation where there is a system-wide semaphore
that is waited on by 9 processes and set to its intial value by a
10th.  The 10th process would have only one job - to set the initial
count of the semaphore and exit, but the programmer is sloppy so
CloseHandle will not be called before exit.  The other 9 processes
would then contend for access to the semaphore based on the initial
value.

So you can see that it would be conceptually inappropriate for the OS
to adjust the reference count simply because the handle was not
closed.

Another way to look at it is to imagine that a process incremented a
sempahore 560 times, decrements 100, increments, 50, and decrements
70.  Should the OS know to knock off 440 on the semaphore when the
process exits?  What happens if, at the point of abnormal termination,
the semaphore is zero because the other processes snarfed all the
counts?  Should the OS make the value -460?

A good solution to this problem is C++ exception handling.  Structure
your code so that if a hard exit occurs, the semaphore objects
automatically adjust reference count as necessary.

Dunno.  Your best bet is probabably to ask one of the kernel people.

-John-