No. Normally the version displayed in VirusTotal is decided by the company providing the antivirus solution, it does not always follow the same rules as its commercial product. To check if a given antivirus is up-to-date you should have a look at its last update field, this date reveals the last time that a new set of signatures was downloaded for the product.
Each antivirus solution present in VirusTotal makes a signature update infrastructure available to VirusTotal. VirusTotal periodically polls this infrastructure (every 30 minutes) in order to see if there is anything new to download. Therefore, if the last update date for new file scans is old it is because the given antivirus vendor has not released any new signatures for VirusTotal.