Yes it does.
We sign our update files themselve, before they are ever seen by users
-- then the update service checks to be sure that this update is for an
update-channel we support (e.g. so we don't accidentally update a
release user to a nightly build).
THEN it also double-checks the cert that it was signed with, and it has
to match what it expects, otherwise the update doesn't get applied.
I'm not an expert on the code involved, but very smart people thought
this through and used a solution that is quite secure.
--
~Justin Wood (Callek)