If, and this is a significant if, If jtdowney is correct in his assertion (good word, eh?) that the code is translated into a format designed for the Microcontroller, then NO, this will not be the hex. While it might be a reversible process, the logic would be way more complex - I've spent a lot of time (for my job) parsing text files, and even fairly simple formats have challenges involved.
So, again, if jtdowney is correct, then I don't believe Mr. Anderson's approach will give you the original hex file (though he would be the best person to ask about that). Whether the binary (which is of course easily convertible to a hex, if not THE hex that you put in originally) is helpful to you or not is up to you, though I would bet that it's not, unless you have a few months on your hands to write a parser. If you do, toss it out onto the GNU

!
-Paul