8 – Token filter module for editing menu URL and title

No, not by itself. The functionality of the token filter module adds a token Input filter on text formats in Drupal. The only field types that text formats can use are the 3 Text (formatted) Field types, not the shortcut Field type.

One can only speculate about the solution to the comment you refer to. Text formats / input filters enable HTML input to be filtered for the presentation. It would be an unusual scenario to apply this to a link field.