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jhouse - Thanks for posting your question on the forum!
I would say that chances are it will only provide automatic failover in the event one of the ports on the interface ever went down. I would be able to confirm this if you post your config on the thread. Please remember to remove any sensitive information. Chances are you will probably need network monitoring to configure failover. This is especially true if the internet connections are being terminated by the NetVanta over an ethernet connection.