no it does not.
I guess I'll have to take your word for it then, but at least Magellan 2 *did* run on MorphOS. It was very commonly used as an Ambient replacement back in the early MorphOS days, since the Ambient back then was quite limited:
http://jpv.wmhost.com/dopus-magellan2/ (also see the FAQ link from that page for details in tweaking)
I know that this linked-to article was for MorphOS 1.4, but is there really any reason to believe it won't run on MorphOS 2? If someone has bothered to try, please make a post!
It is propably imitating some of the features but it is not running Magellan.
Well, as I said, for my own perspective, most of the Magellan 2 features and functionality that *I personally* would be interested in, are already integrated native in the MorphOS workbench called Ambient, in a very nice way. Maybe it would help to rise interest from MorphOS users if you (or someone else) would compile a list of the benefits of choosing Magellan 2 instead of Ambient?