Yea, it does work. I did the WCN configuration and win7 gave both bands the same name. What I didn't know was if the dwa-160 would automatically select the best band to connect to depending on the content being delivered ie: it would connect on the 2.5Ghz band during normal wireless activity and if it detects content that needs more bandwidth for example, video streaming, then the adapter would automatically switch to 5Ghz mode.
As well, perhaps in the future if it's possible, that the adapter would use BOTH frequencies for ultimate bandwidth (combining the 5Ghz spatial streams with the 2.4Ghz ones). I'm not sure if the adapter has two radios or one. Im sure it has two since it see's both 2.4Ghz and 5Ghz ap's at the same time in the list.