I checked out how it would look if I restore MS Launcher backup on another phone.
Source phone is Oneplus 6 updated, stock; target one is Oneplus X updated, stock. I only installed MS Launcher on target phone without customizing it.
Generally restoration was successful, but there are few possible issues.
1) I'm using animated wallpaper - "Smooth Starfield LiveWallpaper", before restoring archive I installed it on target phone. It was not set after restoring MS Launcher archive
2) In dock, default icons are used. Look at attached screenshots.
3) Not installed applications and shortcuts. After archive restoring I've got folders and shortcuts structure like I have on source phone. It includes applications which are not installed on target phone. You can install them by clicking icon. Look at Outlook shortcut, It is missing, I install it and new shortcut is created on homescreen. But I already have it. I initiated installation process by clicking corresponding shortcut.