No. We do nothing out of the ordinary to beat reserve prices. We will not continue incrementing your bid until you meet it.
The reserve price refers to the hidden cost that the seller sets as a minimum price to sell the item. In other words, if you do not bid high enough to meet the reserve price, the seller is not obligated to sell the item to you.
Imagine the consequences of this kind of feature. You never know how much you would pay. Often, sellers will intentionally leave a very, very high absurdly large reserve on a low-cost item because they have no intention of selling it, they just want to see its market value.
If your bid is high enough to meet the reserve price, the eBay will automatically adjust your bid to the minimum amount necessary to purchase the item. Example: Item shows $50. Reserve is $100. You bid $200. You will win for $100 (assuming that you are the only bidder).