No, each MediaElement has their own (like SL1.0). How many MediaElements are you using?
(If this has answered your question, please "Mark as Answer")
Shawn Wildermuth
C# MVP, MCSD, Speaker and Author
Silverlight 2 Workshop
August 11-13, 2008 - Boston, MA
September 1-3, 2008 - Denver, CO
http://www.silverlight-tour.com