No actually it doesn't. I have 2 copies of a game I've tried to register there and the second kicks it back with a red print saying 'already registered.'
Youre basically whining because you (like me probably) are on a budget (or you're a cheapass?) and the codes you have were already registered by someone. You're basically hosed. As far as the system goes, you didn't say that was used so I'd call them. NOA is VERY good about fixing the problem. I had some games not show up and they called me back twice in order to fix as many as we could, and I did lose a few because I couldn't prove I had them (sold the crappy titles of Mario Kart and Smash Bros on Wii) so I got assed out of 100pts, but that's life. I did get many more points that didn't show up logged.
So umm how'd you put it? Oh yah... 'Nice try, Reaper00004.'