Unfortunately, no. The seam hiding works by putting the start of the perimeters at the most concave point (i.e. an inward fold). If you are printing a round object, it probably has no concave points. In this case, it simply puts the seam at the back of the model (it chooses the point with the highest Y coordinate).

I think it may also prefer the most convex point in some cases, and may also try to align the seam with the layers below. @LarsBrubaker, am I describing this correctly?