No, they will switch to LED lamps with DLP which eliminates the color wheel.
It is CRITICAL that you know that just because this TV is a 1080p display, there is no mention in the literature on the Toshiba website that this display actually accepts 1080p on it's inputs. So, if you get it, don't try to feed it a 1080p source like Blu-ray or PS3 as the TV doesn't appear to support it.
FYI: This is typical of 99% of 1080p displays produced before 2006. Only the newest models of 1080p displays, including the new Sony SXRD models, tend to accept 1080p on their inputs. I am sure the NEXT generation of Toshiba 1080p displays will accept 1080p, and they will advertise as such.
Right now, if 1080p matters, be very cautious of what you purchase.