The amount of magnification achievable from any given diopter is directly related to the focal length of the primary lens it is used in conjunction with - the longer the focal length, the more magnification is possible (when comparing lenses with the same reproduction ratio capability, i.e. 1:1 macro lenses).
I've personally never used the lens you speak of, but if the minimum focus distance is ~16cm (257mm - 95mm = 162mm, from Sigma website), the SubSee will definitely increase magnification by some amount, since it makes focusing possible between ~4cm-10cm which wasn't possible in its absence.
So, to synopsize: It is possible to use the SubSee with your 70mm Sigma lens, however, you won't achieve as high a level of magnification as you would with the much more common Canon 100mm lens (or Nikon 105mm).
Keri