That makes sense - you've opened up your mind to the entire text again... I'd say yes it does count because everytime you photoread you are practicing the process and you should find it easier and quicker to get in to the accelerated learning state.
The material I find most useful is the Photoreading Course Disk 7 in which Paul runs you through the whole process with your own book. I find it very easy to get in to state and get lots from the book this way. I guess at some point I won't need the CD but until then it is really helpful.
Matt