Yes, it does, doesn't it. It might, just might, be used in Greek, with the right intonation. It's not quite as rude as it is in English, but it's not the optimal choice in Greek either. I laughed when I first saw it but at that point, the sentences had been locked and couldn't be changed.
I never heard this phrase in my life!
Instead of this: Καληνύχτα κυρία (μου), formal and polite, Καληνύχτα μωρή, VERY rude to a woman, or simply, Καληνύχτα κυρία (first or last name), formal, or just Καληνύχτα (first name), or some others like "αγάπη μου", "κούκλα μου" etc, very intimate for lovers.
This phrase is quite weird. Better skip it, Greek team, if you can. It is useless.
Generally speaking how one can salute somebody depends on the circumstance, the disposition, the intimacy etc.
A simple καληνύχτα or καληνύχτα σας (formal), but very rare, even never καληνύχτα σου is enough.
For women, when they say καληνύχτα it is not very seldom to hug each other, and between a man and a woman depending on the intimacy or just a simple handshake, that is not very often between two women.
About the vocative μωρέ (masc), μωρή (feminine), it is actually a rude way to call somebody. But it is usual in every day speech, between friends. Of course, never in a lecture :)
I don't know if the origin is the Greek word μωρός=idiot, foolish, or it comes from other Balkan language in the form ορέ or ωρέ, used in the period of Ottoman Empire and after in villages.
Even the famous word μαλάκας, it is very usual, specially among the youngsters, who are friends but not only, BUT never call somebody like this if you are not friends, it is a swear actually (=masturbator). If you hear it very frequently, it is because the friends do not mean it and use it as an appendix to the phrase, to call each other, even with intimacy, no, they aren't fighting :)