Yes, it does. I was grinding my Golisopod and this happened:
- Golbat used Mean Look!
- Hana Song used Liquidation!
- Golbat used Air Slash!
- Hana Song used Liquidation!
Air Slash brought Golisopod down to below half health, but Mean Look kept her from fleeing.
So, after doing more digging on the internet (thanks sumwun), it turns out my memory was wrong. Moves like Mean Look and Spider Web do not stop Wimp Out/Emergency Exit from activating. I was totally wrong. If you want to catch Wimpod, I recommend either spamming Net Balls, or using Gastro Acid, Skill Swap or Worry Seed to remove Wimp Out.