Yes it does, don't let the Internet Mail name fool you it is for pop3 email clients like Thunderbird and many others and has nothing to do with webmail.
The Problem you are experiencing is because you have enabled the Outlook/Exchange provider (off by default), which is for MS Outlook (not express). So terminate the Outlook/Exchange provider and answer Yes to the pop-up question and the 'waiting for sub system' message should be gone.