hmm yes it does, it varies a lot inside a Spanish speaking country. Here in Mexico we have many words that are not of Standard Spanish, they vary with each region. For more info: http://en.wikipedia.org/wiki/Spanish_language

Well there is only one official spanish language, the one spoken in the province of "castilla" and is called "castellano" but the official name is "español". There are however other spanish languages like, "vasco", "andaluz", "catalan" etc. The spanish language used in latin america is the "castellano"and like Raque says before, it has it's own personality in each place of the americas you go. But is mainly the same and is a really beutyful language for art and literature lover's . The "Real Academia de la Lengua Española" hes create a dictionary that explains the difernt uses of words and expressions in the Iberic (hispanic-speaking) word! "El diccionario de las dudas" one that is really cool! i hope it helps, Adios!