well, I would wager it would, but dont expect spactacular results.
I have a ti4200 which i just put on a water chiller. It runs at around freezing.
Before, the gpu maxed out at about 310, now I can hit 340 (tested as stable in 3dmark). However, the ram will NEED ram sinks and a fan blowing across it. The ram refused to even run stock with ot that.
With just standard wc, I would expect a 20-30 mhz clock increase with that card.