No, it does not. You could do it a couple other ways, e.g. MQ2Targets for one. MQ2Events could also do it for you.
If it were me, and I wanted to stick with MQ2SpawnMaster, I'd use MQ2CustomSound. Set up the INI to watch for the spawn string (I think it's something like: MQ2SpawnMaster::SPAWN[time] ... )
So for MQ2CustomSound.ini, could watch for that, or even just part of it, and play whatever sound you want.