It does, it would be a great addition if parry blocked projectiles and air attacks. I'm not sure if it would be overpowered or not, given the state of sun/blood god. It would definitely help Kotal's problem with being zoned out.
Right now, if it's a single hit special (i.e. wake up slide) I'll use f+2. If I'm interrupting a string (i.e. any of Sonya's strings that start with 2), I'm using 2,1,2 right now. It's safe on block if I miss time it, and it keeps me really close for mind games/oki. Right now though, I'm normally using the EX parry because the regular parry takes too much planning for me. Also, EX parry after blocking a jump in attack works.