Yes. The bigger blade used in thicker wood needs more tension to keep it straight, and the smaller blade with less cross-sectional area cannot take the tension (in lbs, not PSI) that the bigger blade can take. The EX-21 tension lever will put the same spring tension (lbs) on a blade as long as the blade does not slip in the clamps or stretch in length.
Steel has a modulus of elasticity of 29e6 psi.
A 2/0 blade is 0.010"x0.022" or 0.00022 sq in cross section. Putting a 10# pull on the blade results in stress = 10/.00022 = 45,454 psi and it stretches PL/AE = 10*5/(.00022*29e6) = 0.0078".
A #9 blade is 0.018x0.053 = 0.000954 sq in. The same 10# spring force applies a stress of 10/.000954 = 10,482 psi, and a stretch = 10*5/(0.000954*29e6)=0.0018".
So the #9 can tolerate 4 times the spring tension (lbs) of a 2/0 blade.