Nope. Cycle is generally considered little more than snake oil. Bacteria must eat, and in a bottle formula, this means they have a limited shelf life. This particular product has never been proven to impact the development of bacteria.
Bio-Spira, a relative new comer to the market, has in fact shown to provide the tank with an effective innoculation of bacteria. It must be refridgerated. More stores are beginning to carry it, but it can be difficult to find.
What it really come down to, though, for all products and cycling methods, is the test results. Ammonia and nitrites must first show up, then test 0. With products like Bio-Spira, there should be only low levels of ammonia, if any. If the fish are in the tank for more than a week (assuming an appropriate stocking level for the tank size), and there are not detectable ammonia levels, then it's safe to assume that the bacteria bed is present.