If that is anything like MJ Studio or Virtual Turntables, then yes. What I have found is that you need to have 2 sound cards in your computer, one for the playback and one for queing the next track. You will also notice the latency when queing up the next song. Those program are great for simply playing music for a crowd, but not good enough for beat mixing on a regular basis.
The closest thing I have tried is the Numark Digital Media Controller, it gives you the feel of a dual deck cd player through your laptop computer.