No, either PHP version is incompatible or you need to clear the caches. Start with the caches.
I cleared the cache in my browser and that did not work.
The site worked fine on Moodle 2.7 using PHP 5.6. I've now upgraded it to Moodle 2.8 and had it on PHP 5.6 and it did not display correctly.
I changed the PHP 5.4, 5.5 and nothing changed. I changed it to 7.0 and it broke further.
Clear the site caches.
Go into the Moodledata folder and delete the cache and localcache folders - see if that helps.