Most would say "yes", but like anything it depends what you do when you ride at the velodrome.
I find track riding useful, but for specific strength training get a lot more benefit from riding up hills in a big gear repeatedly. I usually do this on my track bike. Sure, I could do the same thing on my road bike, but if you have only one gear then you have to get up the hill in that gear - there are no soft options. It has worked - I have regained a little of the power I seem to have lost recently.
My recommendation - try the track. The little that I have done is enjoyable, even when training with TT King and his "explosive" acceleration - nearly needed new batteries for my sundial.