If SmarterMail's Remote Wipe is setup properly, it will wipe the entire phone: all data, all apps, and all accounts, and restore it to the state of a "new" phone.
According to Microsoft's implementation of remote wipe, "remote wipe will erase everything on the device, not just the data synced from the Exchange server. That means that wiping a former employee's phone kills everything from your secret project plans to the employee's personal phone numbers and grocery lists."
That is also the same thing that the Android/Google Remote Wipe does.
While it may sound harsh, the remote wipe standard was created for Exchange administrators, and allows those administrators to completely wipe any device which has "corporate" or confidential data on it should the device be lost or stolen, or the individual to whom the phone belongs be terminated from the company to who's network they are connected.
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