Short Answer No, Long answer, No.. :D
The video can explain it a little bit with example where animated objects Collision mesh is also animated.
Basically, the Collision mesh will be at frame 1 if the Collsion mesh is not animated, and it will be at the last frame of the animation if the thing is animated. But the game will not redraw collisions every single frame of the animation because that is not how the games physics work. I wish it where that easy.
