Yes, I just tried it. The first screen on the downloaded installer says it will download & install Virtualbox, and run Virtualbox + Arc upon system startup.
I don't have a Mac, so I haven't tried out your demo yet, but ideally you should make this work like genymotion, using the existing VirualBox install in headless mode. This would also make a much quicker install option for existing vbox users. Hopefully you can avoid the mistake YouWave made of interfering with an existing vbox installs.
It will only work with OS X 10.7+ though.