Yes.
The Steelmate sensors start transmitting when the wheel is in motion Steve. They become dormant again, after a period of wheel inactivity. Prolongs the battery life in the sensor.
The display unit will "remember" the last recorded tire pressures and temperatures when you turn the bike back on. Once the wheels are in motion again; it will update to the current readings.
I know others have a Fobp TPMS and like it...
....but I like the Steelmate TPMS because I may not always have my I-Phone with me. But the Steelmate TPMS display is always there on the bike.