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freddo-
Not quite... this mechanism has springs in it to handle variance in weight on the desk, and the counterbalance pulleys cross from side-to-side to ensure even if weight isn't evenly distributed on the desk that each side moves the same distance.
If you mean "it has a balance on a pulley", well yes... hence counterbalance, but that is a simplification as a sash window mechanism couldn't be adjusted or handle an uneven or changing load.
Velocio
https://www.youtube.com/watch?v=S1pVAaUwJLo
Some person doing a full installation of the Float... and around 17:00 you can see the counterbalance stuff.