I do not know the definitive answer to your question since I have not tested it yet. If you need to make sure, you might want to go straight to the horse's mouth and file a support request with Autodesk. After this latest debacle with the RAC Network Deployment process, I would be leery about making assumptions concerning licensing behavior for these giant Suites.
I know that there are some people having issues with suite licensing overseas based on a few posts in this forum (http://www.revitforum.org/showthread...ht=distributed). Don't know if those same issues might apply in the US.

I should've really posted a follow up...

We're finding the distributed license server is working for us. I created the BDSU suite deployment(s) to "look" at the host license server first, so anyone attempting to open any of the suite applications looks to that single seat regardless of location... which in my mind, proves "it works"

That said, so far I've not been able to ascertain if/how/when the seat is taken by an instance of RAC (short of constant monitoring of both sessions of LMTOOLS) - as obviously I'd like to be able to say with some authority

"get out of that just a moment, I need to get into 3DS and you're hogging the seat with an RAC session which we've seats spare for"

All in all, so far so good... and for the OP, the Autodesk-Youtube link you (jsnyder) posted in my thread goes into explaining the cascading behaviour a bit more.

It's still configured to work the way you described that your 2011 suites behave. Here is the cascading sequence for the 2012 Products:
http://usa.autodesk.com/adsk/servlet...P=OTC-RSSSUP01

...but

The cascading is not working properly. AutoCAD 2011 is pulling from the Design Suite Premium licenses, even if there are Revit Arch Suite liceneses available.

Autodesk was able to duplicate the problem and it has been escalated to development. :banghead: