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No. Any metadata changes are saved to that library's configuration only.
When configuring a list to automatically add new books from one of the configured content sources, how long are titles considered "newly" added to those sources and be added to the list?
Once the list is configured to automatically add new books, all new books from that date forward will be added to the list. Manual curation is needed to remove titles from the list that are no longer considered to be new. This is correct as of version 3.0.2 of the Circulation Manager.