I've looked over a few weapons, and I believe that does control certain aspects of the recoil. However, I think you need to add the KickStrength parameter to the odf to make it actually raise your aim as you fire.
I used the above for my DLT-19. I also took the liberty of looking at the ODFParameters doc, and there are more parameters concerning recoil and kick under Weapon and WeaponCannon, so feel free to experiment with those as well.