Yes and yes.
Here's a screencap:
http://amygordon.com.au/SigilTOC.gif
Edit: I tried with another book, and although it generated a TOC on the Kobo menu, any attempts to go to a specific chapter (or "next/previous" chapter) in the menu took me to the start of the book.
When I loaded the original book on Sigil it was divided into the index splits already so I didn't have to do any editing as I did with the first book.