Maybe it would Ataros, my logic however tells me the opposite, you see I run my CoD (because I have English + Russian + all the previous EN, RU patched versions on separate directories on my HDD) not from STEAM but from shortcuts of the launcher.exe from the different subdirectories.
STEAM is online and correctly approves and allows me to play (I have to login accordingly before with my STEAM account for the International or for the Russian version, of course).
Anway, I do not complain, I have no stutters flying 3072x1024 offline/online with 70+ fps and I do not lose sound so, I just wait patiently (or impatiently) for Luthier's beta patch news tomorrow...
~S~