No. Haven't seen it do anything.
What has shown up as a possible effect is to format the card fresh. I found a few camera to power up and get ready faster.
Here's my bet... MARKETING is rabid to dupe and label anything that will steer you to their shinier packaging or claims.
Bob
Will using a SD card with faster read/write speeds as opposed to standard SD cards affect the shutter lag or shot-to-shot times of a camera? For example, will using Sandisk's Ultra II line improve performance versus using the standard line of cards?

Chowhound
Comic Vine
GameFAQs
GameSpot
Giant Bomb
TechRepublic