No, it only counts tips received since installing the v0.2.0. I will probably add periodically syncing whole history in some future version - just in case something goes wrong with blockchain.info notifications - and then it would catch up with the previous tips.
Since the current donation addresses were created by the 0.1 version and I'm assuming you're using callbacks to trigger the recalc would it be correct to assume that these old addresses which weren't set up with a callback URL will never sync up? Do I need to wipe all of the existing addresses and settings and reinstall the plugin? If so, I know you haven't implemented a one-click solution for that yet, but what do I need to manually delete from where to make that all happen?