Yes, cobalt, chromium, molybdenum and vanadium to name just a few.
I ran some particle counter (PM2.5μ) tests and and the fine (invisible) metal dust does remain suspended in the air for some time, but it doesn't remain in suspension for as long as fine wood dust or travel as far...
However, standing in front of the grinder will have the highest concentrations.
I use a series of magnets in a container below the wheel to capture some of the swarf...
As mentioned by Reed, the swarf is prone to catching 'alight' if it is allowed to build up and stand out too far from the magnets. But, the excitement is brief once the grinder is turned off and the air stream around the wheel drops.
I also have a few sentinel magnets placed at intervals away from the grinding station. I also keep an eye on the particle counter that I always have running whenever I'm in the workshop to monitor fine wood dust levels, which also reads the fine metal dust levels.
I experimented with extraction using a dedicated vac but found no benefit from that. I would not consider using my dust extraction system for the metal dust extraction because of the fire risk unless I added a wet pre-separator to that...
I also wear a positive air pressure respirator while grinding to minimise the risk from the heavy metals.