It works perfectly.
Adding 30 units of each colour will add 1 stop of neutral density; generally.
So, if you are using 0C 70Y 47M with a time of 5 seconds, then adding 1 stop of ND is: 30C 100Y 77M with an approximate time of 10 seconds. You can add another stop by adding another 30 units of each filter, simple as that really.
I've been doing exactly that for decades with my 5x4" DeVere colour enlarger and 5x4" negatives to make postcard prints. Not to mention, the prints from very thin negatives that I have inadvertantley made.
Many Meopta colour enlargers have a ND filter on the side, usually 2 stops, which is a great help, but just adding equal amounts of all three filters is exactly the same thing.
7.5 units is a ¼ of a stop, 15 units is ½ a stop, 30 units is 1 stop of neutral density. This is one of the reasons I use enlarging times in 1/8th of a stop increments, instead of the more usual 1/3 of a stop increments. In some instances, I further refine my "F" stop printing times to 1/16 of a stop.
Mick.