You obviously have more faith in Microsoft than most of us
I'm not 100% certain but I don't think it'll do anything as sophisticated as that, it's just a basic (but good) HTPC package with few frills.
I haven't used it myself but I hear comskip (http://www.kaashoek.com/comskip) is good and of course VideoReDo does an excellent job of marking them fairly quickly prior to editing them out.
It looks like there may actually be a way to do it in Win7 which I will have to research. The unfortunate part is that it looks like my extender (DMA2100) doesn't play nice with Win7