No, you'll get the "confirmation expired" messages back...or actually,
I think the LISTSERV postmaster account will get them.  They generally
get bounced back to OWNER-LISTSERV rather than to OWNER-listname.  The
ones I see bounce to the account I have defined as the LISTSERV
postmaster.
 
I have too many accounts...this is so confusing. :)
 
Nathan