It does. It uses a Wolfson 8533 DAC :-
That's interesting. So the lighting to 30-pin is somewhat more versatile in that you could choose between analogue lineout or digital. Kinda weird using it for digital though 'cos you're bypassing the iDevice's Cirrus Logic, and the adapter's Wolfson 8533. But good to know that you could if you wanted to.
I thought digital out had only one option with the Lighting->microUSB adapter only.
Actually the 30 pin adapter came out first and the 9 pin to micro USB later. I would definitely get the micro USB adapter when I get around to it, as I can use the 90 degree cable from the VERZA with it and make my setup sticking out less on the bottom. Of course ideally V-MODA will just make and sell us such cable for more profit and happy customers.