Yes, it does have a clear and different meaning in the US. It is the vagina in a sexual sense (versus an anatomical identification) and it also someone who appears to think with their vagina (a recent illustration would be Miley Cyrus, whose performance over the weekend has hit the meme circuit hard. I didn't see it, but how can I miss the illustrations?) I'd qualify this by saying it is sexual, not commercial, so it isn't the same as the slang for prostitution.

SRS