Yes. For integral types, ! returns true if the operand is zero, and false otherwise.
So !b here just means b == 0.
This is a particular case where a value is converted to a bool. The !b can be viewed as !((bool)b) so the question is what is the "truthness" of b. In C++, arithmetic types, pointer types and enum can be converted to bool. When the value is 0 or null, the result is false, otherwise it is true (C++ §4.1.2).
Of course custom classes can even overload the operator! or operator<types can be convert to bool> to allow the !b for their classes. For instance, std::stream has overloaded the operator! and operator void* for checking the failbit, so that idioms like
while (std::cin >> x) { // <-- conversion to bool needed here
...
can be used.
(But your code !( a > b && b <= c) || a > c && !b is just cryptic.)