Does it HIDE in excerpts?

The short answer is no, this plugin does not hide the disclaimer in the excerpts created from the main content of your posts.

However it wouldn’t be hard to get it to do what you’re looking for.

If you add this code to your theme’s functions.php it will automatically strip out any content generated by a shortcode in the post’s excerpt. If you’re not comfortable with editing code, you can click the Download ZIP button at the top of that page and install it on your site just like a regular plugin.

I haven’t set the review disclaimer plugin to strip the shortcodes from the excerpt since some sites may require the disclaimer to show up before any other content. The solution provided above will accomplish what you’re looking for though.