Yes, it changes as needed on the fly. Mine went into a little slow motion on the lift hill to get into sync, but still wasn't enough to be perfect. It can skip frames to catch up to it sounds like after talking with them.
The movie itself is done beautifully and it a much higher quality than I was expecting for a small device to be able to handle graphics-wise.
I'll definitely try it again after it's officially open to compare. I was a little caught off guard the first time, seeing as I never get motion sickness on anything. Heck, I'm the wacko that goes upside-down on the Gravitron at the county fair. Hopefully next time will be better synced, cause I really do like the story they created for the ride. Fits very well.
EDIT: I love Silicon Valley, Scott Walker just reminded me I haven't been watching the new season yet. Thanks!