It should but it depends whether or not your Telus phone actually works in a particular area in the US. Don't forget, this may be double long distance. The first one is from the Bell landline to the Telus cellphone which is in the US. I think Bell charges this. The second one is charged by Telus when you receive a Cdn calls from the US. But correct me if I am wrong on the long distance thing.
I think it works like this:
-Bell forwards your home # to your Cell #
-Telus would then forward the call to your Cell phone.
Now since the call would originate from Canada you would only be charge Canadian LD with the US roaming airtime.
(at least this is how it would work with Bell Mobility)
If your cell phone and home phone are in the same calling area, you would only get charged roaming and long distance by Telus, not by Bell. (Bell would see you forwarding the line to another local phone.)