Yes. It is a brokered message passing system. Strikes me as identical to ROS internal stuff. Clients subscribes to topics, and clients can publish topics. Either side can be a client. I ran both directions in simple tests, at the same time. Master asked for an update by publishing a request. Slave (Netduino) published accelerometer data via a JSON string. I'm not sure if there was a 'reply' to publish supported, as in a blocking publish, but I don't think you would want that anyhow, on loosely coupled systems.
BTW, I was unable to get the micro frameworks supplied DPWS samples (mf version of wcf) to run. It looks like they encountered an error in the MF implementation - multicast udp not supported?. It seems to me that you should able to get around that not using 'discovery', but I did not want to spend much time on it just to run into the next problem, and no one spoke up and said it would work. M2Mqtt worked first try, seems to be currently actively maintained, I was impressed.
Other projects I ran across had not seen activity in years, and maybe that is because they work and don't need fixing, but that is seldom the case in my experience. I got the popular web server to run after a few code tweaks, but I would end up just making it look like M2Mqtt anyhow.