I wondered if it could or not. I don't really know why it happens in soap, only that if a FO contains much vanillin it can make CP soap much darker. Does the same thing happen with other types of products like lotions?
Yes, it will change color in lotion but in my experience since you use such a small amount of FO, the discoloration isn't too bad. I have a chocolate FO that turns soap very dark brown but in lotion it's just a slight brownish tint.