#9 - Oct. 9, 2010, 5:58 a.m.
It absolutely does, Oil.
Think of it this way: it's a ticketless way to notify Game Masters of Gold spammers or chat spammers on your realm. It really should only be used for spam violations or gold advertisements, as true abuse is better addressed by submitting a petition.
What the Report Spam button does is notify us that that character or account is, specifically, spamming. It also places that
entire account on a temporary ignore list. This list clears when you log out/back in, but it can provide you a bit less inconvenience when you're trying to use chat. >^.^<