No. You're misunderstanding the Create and Manage Conditions section. This section is a place where all of your Conditions live and has two purposes. One purpose is so that you can edit a Condition; e.g. you want to change temp > 10 to temp > 15. You can edit that there, and where that particular Condition is used it will use the changed condition. The second purpose is for when you create a complex set of Conditions. When you go to add a new Condition to a complex logic equation, one of the choices is to use one of your existing Conditions; that would be any Condition in the Create and Manage section. Or, you can create a new Condition right there. If you do that, the new Condition will also end up in the Create and Manage section.
That section is just the collection of all of your various Conditions. In and of itself it does nothing. You can have Conditions there that are not even used in and action.