Yes it does in DoD Source. It does not in SS2. Maybe this is why they used the term "Rendering" following the HDR...but its not HDR if its not dynamic...
It still sounds like you're misusing it. Dynamic range is the distance between the highest and lowest possible values for luminance that can be represented. Having a high dynamic range means there is a larger number of values, providing the "overbright" effect visible in HDR. It doesn't mean "dynamic" in the same sense as dynamic lighting, which is lighting that is calculated in real time.