In a way yes..

We configure variance to provide unequal cost load balancing. When you configure traffic-share balanced (which is the default), the router distributes the traffic proportionately to the ratios of the metrics that are associated with different routes.

When you configure traffic-share min along with variance, then only the best metric (least cost) is used to forward the traffic eventhough all the routes are entered in the routing table. this is generally done to speed up convergence.

In your case you have configured variance as 1 which means it is not in affect at all and only the best metric routes will be entered in the table. The traffic-share min obeys its characteristics of using only the best routes which will be same.

The thing to understand when using traffic-share min is to have all the unequal costs routes in the routing table but to use only the best for forwarding

http://www.cisco.com/en/US/tech/tk365/technologies_tech_note09186a008009437d.shtml

HTH, rate if it does

Narayan