Windows 7 - Does Search follow folder shortcuts?

If I place a shortcut to a networked folder in my Documents Library, then Search Documents, will the Search follow the shortcut out to the network folder and search in the networked folder files, or does the search only see the shortcut file itself?

I'm new to Windows 7 Search and still trying to get the hang of the "inconsistencies", so I'm not sure just how the feature is supposed to work under these circumstances.