Actually it does, and it's necessary to update the border data. Though if your edits are far enough away from said border, you could get away without re-finalizing the navmesh unless you added a door.
The OP asked about exterior... so no door involved. When I checked my navmesh edits outside Whiterun (cell 4,-4) and finalized the cell, the surounding cells were NOT flagged as edited. If I change a border navmesh (where the green border line shows), then it does indicate the bordering cell was edited. But if my navmesh changes are isolated to just internal (no border) triangles, I don't see bordering cells being flagged as edited.