No. Don't forget it also has a requirement to tap as a cost, for each of its individual mana producing effects.
If Urborg, Tomb of Yawgmoth is in play, then Fetid Heath will basically have the following abilities:
Tap: Produce B,
Tap: Produce 1 colourless,
B/W, Tap: Produce WW, BW, or BB.
If you tap it to produce B due to it being a swamp, then you'd be unable to use the Black mana to use the double mana producing effect, because that ability also requires it to tap as part of the cost, and it is already tapped. You'd have to have some way of untapping it.