Yes, and all that does essentially is regex pattern matches for the most common compile errors, I've found. I actually don't find it that useful. (The most useful compile error is the one that points to the line of code I wrote that originally caused the compile error.)
No, no, I get lots of compile errors :) Some of them several hundred lines long for a single error. I read the first line of the error and the last two (usually the real error, and the point of instantiation). Then I look at my line of code and usually it's obvious to me what the error is.
My record is something like 32 lines / 50,000 characters of output from gcc for a simple 7-line program using boost::mpl that contained two compile errors. (The whole of the source code was only about 200 characters).