Yes — Keep&Share users that you’ve shared edit rights for that calendar with can be notified when someone signs up for an event on your Calendar. If you would like to share notifications with other editors to your Calendar, you can create a customized “Self-Book” Template, and check the Notify Editors box.

This can be very useful if you are managing the Calendar displaying someone else’s Events — after you do the setup, they can be notified themselves when someone signs up, instead of you needing to tell them.