It should but draining water with the python wastes a lot of water. You have the water running wide open and half (if not more) of the water going into the sink is actually from the faucet and not the tank. The suction is what pulls the water out of the tank so even though it's going up a floor, it should still work. When taking water out, you have to be careful not to overflow the sink. With the large amount of water, if the sink doesn't flow well, it can easily fill up and overflow. I ran into that problem when I first got mine. Fortunately, I could see the sink and din't make a mess.
What size tank do you have. I have found that for my 29 gallon, it's really easier to manually do a WC with a 5 gallon bucket. I'm usually only takiing out 5 gallon so the python is more trouble than just using bucket. Unless you have several tanks, a large tank (at least 55 gallons) or possibly have issues with lifting the heavy buckets, IMO, it's easier to just use buckets.