From what I see on stop form spam it does not make a entry for emails or ip in the ban list.
It only works in the registration process.
In fact when it came out Gizmo noted it does not block bad ip's it only blocks bad emails.
it makes a notation there is a bad ip or email.
But it only acts on the email address automatically if it is set to do so.
But I believe that was addressed in v5.7.8.