Yeah, it does.
You select all the images you want to shift. In Library, go to edit capture time. Using the first option, shift the time you see by what you need to. It's only displaying the ACTIVE image time you have selected, it will shift everything selected by whatever amount you put in.
For example if you select two images, one from 12:00 and one from 3:40, and you change it to 12:10 the other will be shifted to 3:50.