No, afraid not.
The feature did seem worth having though, according to a review on an older Sony model that had it.
PS I personally would not buy a chipped version of this player. You can buy the player multi region without it having been chipped. The retailer use their own remote hack, which of course means that the unit's never been opened up and soldered. This will also allow you to use Sony's warranty. Chipped, and you would invalidate said warranty and have to rely on the retailer solely. May be OK, maybe not!
I was not keen on buying a player this way. Plus, you will find you're paying less for the multi-region player un-chipped.
I recently got my Sony DVP NS700 player from
www.hifibitz.co.uk
which was multi-regioned this way. They do the 405 as well. Infact, I was going to buy that, but got fed up of waiting as it was a new model.
Hope this helps