From my 744 training notes: (my highlighting)
Characteristics
The standby magnetic compass is a sensitive instrument composed of
a circular heading indicator card having two parallel and horizontal
magnets. The card is floating in a liquid filled case and is free to
rotate and tilt. The liquid medium serves to dampen rapid movements
and oscillations of the compass.
The magnets align the compass with the earth’s magnetic lines of
flux. This rotates the compass card that is calibrated to show the
airplane heading relative to the earth’s magnetic field. The magnetic
heading of the airplane is read from the card against a fixed lubber
line.
From my 767 training notes:
It is a sealed, liquid
filled unit, with a circular indicator card that has two parallel and
horizontal magnets attached and free to rotate and tilt as the airplane
banks. The liquid medium dampens rapid movements and
oscillations.
Sorry I can't find an exact answer and alas, I'm not lucky enough to have one as a paperweight. 
However, I once did a "barrell / aileron" roll in a simulator but didn't notice what the standby compass was doing!
