I can't guarantee that the bee dies immediately. It might twitch for a while, it might even continue to breath through its spiracles for a few minutes, and some automatic reaction might possibly trigger a sting if something brushes against the rear of the decapitated bee - I wouldn't like to risk touching it as an experiment; but as far as flight or walking goes, when the head comes off that's all she wrote.

Stingless bees in South America kill honey bees the same way.