Well, kind of...it will not show the reall path in the page source, but when the "fake" file accessed, the script will send redirection to the reall path. So, theoreticaly if you try open the "fake" address directly in the browser, you might be able see the real path (it depence on the browser and its settings).
But if you are having problem with this, you can try replace if (!$image_info = @getimagesize($file) || is_remote_file($file) || !$mime = $mime_type_match[get_file_extension($file)][0])
With: if (is_remote_file($file) || !$mime = $mime_type_match[get_file_extension($file)][0])
It will not redirect to real path, as long as the file is local (not remote) and its mime type present in upload_definitions.php (which it should)
But, be careful with this, if the file is too big, your server might run out of memory and fail