The simple answer is: yes
Below it's a WIP picture, it still has the outdated SHAR cockpit but should demonstrate well the dynamic shadows effect:
It's running in a programmer's test shell so it is not loading terrain and other features for quicker loading/testing/prototyping (it's a "JT lite" type of app focused in the effects being developed/tested).
(And I apologise for the complete lack of anti-alias in the picture above).