No, and seeing as Ryan and Jon wrote the majority of Pretty. Odd., I'm not sure how album three would have turned out had it been in that vein. That said, if the line-up hadn't changed, I would have loved to see the band write another record continuing in that style.
As for album four, I just hope it's more musically and lyrically complex than V&V. The wide array of instrumentation was great, but the melodies were the simplest they ever were for Panic! and the words were more teenage diary -esque than poetic.
I see. I completely lost track of Panic once Pretty. Odd. came out. I loved their debut, and didn't care much for P.O. (not my style, I guess), so I never really knew what the general consensus is.