Yes and I just went through it to make sure it works without the DAW
Here is the setup I just tested:
Amplitube 4 is the simulator on my laptop (never use it actually)
I have my interface (Art Tube Mix) plugged into my laptop with guitar plugged into interface
Headphones plug into the interface
Sound outut on laptop is changed to USB Audio Codec
I just opened up GT, put on a jam track and played along.
Never got into these sims, just played with the buttons on mine and made sure the tones changed etc, they did.
edited
This year the diet is definitely gonna stick!