synphul :
No it doesn't. Maybe that's why your fans are running so close to full speed, the use of a sata power cable with the enthoo fan hub causes them to run at full speed. From the user manual, page 31:
"The 12v sata power cable can not be used to power the PWM hub if connecting to these types of 4-pin connectors, due to the interference with the RPM regulation by voltage (resulting in the fans running at full RPM). The PWM hub will draw its power from the 4-pin connector, which is limited to a total device consuming 30w in total."
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That's section of the manual is referring to fake 4-pin headers that are really variable voltage controlled, not PWM controlled. A true PWM controller has a fixed 12V wire (doesn't matter where it comes from) and a pulsed PWM signal that modulates the 12 volts. You can test a PWM header by removing the 4-wire. The fans will accelerate to full speed. This is what happens on both my Dell and Asus motherboards -- not surprising since both have PWM controlled 4-pin CPU headers that work with PWM fans according to the Intel spec.
With a fake PWM header, you can only use the Phanteks as a dumb splitter. Fans connected to it would go up and down in speed with the variable voltage, just as they would without the Phanteks.
I tried the Phanteks without a SATA connection, just to test the possibility that my Dell and my ASUS PWM fan headers were not actually PWM. Didn't make any difference. Same misniscule range.
The design flaw of the Phanteks fan header is highlighted in this review:
http://forums.vr-zone.com/hardware-depot/3167542-phanteks-pwm-fan-controller-hub-review.html
He measured a 10.6 volt output with a 20% PWM input signal (which is idle speed for the CPU fan). So even at idle, fans connected to the Phanteks are going to be running at 10.6 volts (90% of full speed).