Not quite. At least in 0.2a, I can´t seem to get Chanka to register half circle motions done properly, i.e.: back, dwn-back, dwn, dwn-forward, forward.
However, if I simplify it to: back, down, forward, the move is executed normally.
I experimented this a lot with Rugal in CvS2, just try it with his moves, hcf+kick, hcb+punch and the Kaiser Wave.
Other motions, like fireball, dragon punch, double taps and such, work normally.
Incidentally, it´s the exact same issue Kawaks always had, at least in my computer. But not Nebula, NeoRage, or any other emulator.