That is what i always believed untill i read a sticky by leebca. I'm hesitant to change all my views on it so i still said yes but here is a quote from and a link to the sticky.
http://www.reefsanctuary.com/forums/fish-diseases-treatments/61875-what-live-rock-anyway.html
"Probably the biggest error for new aquarists is the thought that if dead, home made, or base rock is placed next to live rock in the marine aquarium, that these will turn into live rock. NOT.
No matter how long dead, home made, or base rock sits next to live rock in our aquarium, the lifeforms that live inside of live rock will not move over to the dead or base rock. Those rocks will never become LIVE rocks! Why? Because the organisms that make homes for the denitrifying bacteria inside the true live rock don't reproduce in our aquariums These worms and other special lifeforms responsible for the rock giving homes for denitrification bacteria, will not spread. They cannot move to other rock and they cannot reproduce/multiply in the aquarium. In fact, this is one reason why some aquarists claim that live rock should be replaced every 5 to 10 years. The lifeforms inside the rock will die off of their own accord, and the help the live rock gave at removing nitrates will diminish as the rock ages. Some claim that once coralline algae covers over the crevices and these worm holes, that the rock will loose its ability to handle nitrates, too. Makes sense. So maybe don't be in such a rush to cultivate a lot of coralline if you need the denitrification!"