Yes it will. I have used it in the past when doing exchange migrations etc.
There is a 'Custom' tab which will allow you to specify the attribute you
want to modify.
You can populate the value using text and variables for first name / surname
etc etc.
Just be careful.. It’s a very powerful tool which will make changes to a lot
of objects very quickly!
There is a roll-back feature, so I suggest you test the change on one
object, then test the roll back functionality.
Dunc.