XML namespaces how does IS support them

Can anyone tell me how IS supports XML namespaces? i.e. Those nasty-looking XML tags that look like:
instead of just plain XML:

I’m asking because www.xCBL.org has just released (yet another) version of xCBL - this one with heavy use of namespace qualifiers in the XML. I’m trying to figure out if:
i) Any special support is needed in IS, and
ii) Importing updated revisions of the schema as IS records becomes easier with namespaces