Not necessarily. SPUs will chop the tops off excessive voltage peaks, but as happysteve explains, what tends to trip RCDs during spikes and brownouts is not the voltage itself but the sudden changes in voltage (dV/dt). The high rate of change causes high peak currents to flow through any capacitance to earth such as within interference suppressors, which the RCD detects as leakage (which technically it is.) Clearly if there is a high peak voltage with a high dV/dt, then the SPD might reduce it to the point where it doesn't cause a trip.
I'd been pondering this for a while and had come to the same conclusion... I almost added some vague thoughts along those lines but lacked the confidence.
So what would prevent this - RCD tripping in due to transients - happening?
(1) less capacitance by design (shorter cable runs/few circuits)
(2) some sort of device that had capacitance to earth before the RCD, so the excess current would flow to earth there rather than in the circuits after the RCD in the event of a transient
(3) a choke (i.e. inductor) to limit the flow of current as the frequency increases
(1) is I guess something to consider when designing from scratch.
I suspect there's some sort of filter that effectively does some sort of combination of (2) and/or (3)... it's just not an SPD. It's the sort of thing you'd buy from RS or Farnell.