I'm not sure about Ultegra, but I know Dura Ace can. If DA can, I would presume Ultegra can.
What kind of crankset do you have?
I have a FSA compact on the Axiom with a DA FD, and I was constantly throwing the chain off the crank. The mechanic at the LBS, who spent lots of time adjusting it, attributes it to USER ERROR! Yes, you MUST be very careful about where your chain is on the cassette (mid cassette is best) and not heave the shifter too much. Just a soft touch. It took me a while to learn the technique. I am really good with the user error problems!
That said...
My ID8 has a Shimano Ultegra compact crankset and Shimano FD (also DA) and I have had no trouble whatsoever with throwing the chain.