Hi Vivek
I am not sure this is like you describe. There is a feature site especially for the Stabilization which say the OSS Lenses are splitting the movements on 2 systems with full capacity with OSS lenses. But it can also be used with OSS Lenses and all 5 axis on chip only mode.
Google translate from Jajanese site
"...Equipped of 5-axis body within the camera shake correction, such as A-mount lenses as well as E-mount lens, you can compensate for camera shake in a variety of lens. E-mount lens of OSS (lens in the optical camera shake correction function) lens featuring the (* 1) when worn, correction of angular camera shake (Pitch / Yaw) in the lens side, Shifutobure (X / Y) and rotational camera shake (Roll) of correction was performed in the body side, by combining the correction of lens side and the body side, to achieve the optimal 5 Jikute shake correction. When mounting the A-mount lens via a mount adapter LA-EA4 / LA-EA3 (optional) is carried out 5 Jikute blur correction at the body side (* 2), etc., while making the most of imaging performance of the lens can be optimal camera shake correction..."
https://translate.google.de/transla...y.jp/ichigan/products/ILCE-7M2/feature_1.html