It does work. Use the "patch" option if there is no web driver for your version. I just patched the 10.12.2 driver to work in the 10.12.3 beta that has no driver. Open the app, click the tab that says "NVDAstartupWeb.kext", enter your current OS build version from "about this mac" into the "fake OS build version", and then click "patch immediately". This works assuming you already have some webdriver installed from a previous version.
This depend if the target partition is an OSX partition, otherwise all options for that are disabled. i.e. if you target an EFI partition (or a volume that does not contain an OSX installation) you can't install them.