Yes. But they are not simple software emulators; Trackstar turns control of the PC over to its onboard 65C02 chip, running code from reverse-engineered Apple II operating ROMs.
I've got the Apple IIe Card as well, in my (recently re-capped!) LC III. Haven't fiddled around with it too much, as I'm far more interested in the Trackstar stuff.
If you haven't already, pick up a Floppy Emu and connect it to your IIe Card. It's what I use to create my Trackstore disk images with the Trackstar, and it's a huge timesaver.