Will Traffic Controller answer 100% of queries even if my weights do not add up to 100?

Yes. Traffic Controller will answer all queries because the weight is relative to the values of other records in the pool. 

For example, traffic would be split evenly between two records with weighted values of 2 and 2 or 50 and 50.  

Also, three records with weighted values of 10, 8, and 2 would have the same traffic load as three records with weighted values of 100, 80, and 20.