Nope, not really.
See the part where you clamp the blade? It's made of 2 pieces of steel. One piece is has 2 right angles bent so that it forms a "U", and the other is just a straight piece welded into it with the set screws. If you try to square to either side, you're not pushing into a real 90 degree corner, but into a rounded bend in like 1/4" steel, which is really not very precise at all.
You also can't square off the steel as the blade exits the jig. The welded in piece is not welded in there straight, you can look at it and see that, and you can't lay your square on the "U" piece because the bends flare the edges of the steel every which way.
Even if you COULD easily square the blade in the thing, the whole top section is not necessarily parallel with the other end, the part with the hole that slides over the male end of the jig. Throw in any issues with the cam lever deal in relation to the grinding wheel etc etc.
There are just too many variables with the thing to me. It's almost like you are better just to clamp it in there any which way and leave it a little loose, then square the best you can to the grinder wheel.