777-chap, I don't think it does...
The 'NEXT HOLD' option will allow you to select a second hold, AFTER the one already activated in the LEGS page, but not before it. It is a planning and workload-reduction tool for coping with holding at multiple points on an inbound route. If the missed approach is there, with a hold in, you shouldn't be able to put a hold in on the arrival using it.
Do any of you use Bill Bulfer's excellent FMC guides? (Not a thrilling read, but a very useful reference especially if you're into training or flying economically).