honestly, best guess is "yes it fires". i have a model gun here that is built up, (colt .45) and it has a clip and blank rounds, and a small hollow point in each blank to put the little caps in to "shoot". loud as hell too.
i dont think its an mgc though. it is a japanese company.
so, i guess the way my logic is working , if its a japanese company, and it looks like it fires bullets somehow. chances are its a big shiny $$$$$ capgun.
chris