no it does not
what I described would explain the perception they have.
If your moving when you form the bubble, the bubble keeps moving at the same speed/direction relative to outside time, however you are now in "fast time". If you are moving fast when you put up the bubble you would run out of it pretty fast (remember you start in the middle of it, even with a 5 yard bubble, 7.5 feet and you'd hit the edge).
we can do more reasoning along these lines if we can figure out the size a bubble Wayne can cast. The smallest bubble I can find is the wedding scene (waiter -> gentleman), the largest the wedding fight scene?
and come up with a compression ratio, I think there is enough info to figure it out.