Of course it does. Matroska is just a container format and can be used with several different codecs, though, so it could easily be that some Matroska files are unplayable due to the codecs they use. You're going to need to find out this information to solve the problem, but ultimately it's FFmpeg (VLC's backend) that can or can't decode a codec, so that's the component you need to look at.

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