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Yes, the formula has been tweaked over the years. Minor adjustments have been made over the years to give even more realistic results. The formula is constantly run against real-life games over the course of the season to evaluate it's accuracy.
The formula is never changed during the season. It is only adjusted during the off-season, and all changes are published here in the Guide.
Current Game Resolution Formula
On Base = H+BB+HBP-CS-GIDP
Total Bases = S*1+D*2+T*3+HR*4
Advancement Runners = TB+.26(BB+HBP)+.52(SB+SAC)
Plate Appearances = AB+BB+HBP+SAC
PTO=Preliminary Total Offense = ((OB*AD)/PA)-1
PTD=Preliminary Total Defense = ER+(E*.6)+(LH*.6)
Total Offense = PTO + Stadium Option
Total Defense = PTD + penalty for no Starting Pitcher
Raw Score = (*TO *+ opponent's *TD*)/2