I think so, '-e' switch should tell the tool to generate portable artifacts from WSDL (SOAP 1.1) - if there's SOAP 1.1 binding defined in WSDL - and artifacts for tool supported extensions (SOAP 1.2, ...); use of '-e' may only result in non-portable apps
Also note that "wsconsume -e" should be same as or at least similar to "wsimport -extension"