Yes. TransMagic uses what is called a "partitioned" approach to multiple cores\processors. For example you can be loading one part and working on another opened part at the same time. TransMagic can also be translating\working on a part and allocate resources to other processes like memory management, geometry checking, etc. However, currently TransMagic does not use parallelization during a single translation. For example if you are loading in a multiple part assembly - TransMagic will not send multiple parts out to multiple processors for translation. That is a project for a future release though.
TransMagic's server application can send multiple files out to multiple processors simultaneously for background translation. This is sort of a partition\parallel hybrid.