Yes, it does, but you need to understand the rules. First, key order doesn't matter - it's just for your convenience. Second, each key must be fulfilled by a word or phrase on the command in order for it to execute. BUT...you can put the same word on multiple keys and that doesn't mean you need to say it twice.
Example:
If you want to be able to say three things, "Element Scan Slide", "Element Scan Pie", "Element Scan Peek":
Create Voice group "Element"
Create Voice Command with two keys
Key #1: "Scan"
Key #2: "Slide", "Pie", "Peek"
This will require saying "Element" to get on the voice group, "Scan" to fulfill Key #1, and either "Slide", "Pie", or "Peek" to fulfill Key #2. If you add "Scan" to Key #2 also, then you can say "Element Scan ...(whatever else)" and it will be fulfilled as the word "Scan" fulfills both Key #1 and Key #2.
If this still doesn't help you, let me know the exact phrases you want to say to execute the command and I'll try to provide a solution.