It does indicate the color temp of the shot if it is in the File data, otherwise the starting point is 0. The below quote explains how the Temp slider works.
The White Balance adjustments are split between Temperature and Tint. Camera Raw 6 has interface clues—blue and yellow in the Temperature slider and green and magenta in the Tint slider. The Up and Down arrow keys adjust the color temperature in increments of 50 Kelvins. Pressing Shift at the same time adjusts the temperature in increments of 500 Kelvins.