Yes, the ACOS target you set in Prestozon's Campaign Manager applies to all ad groups and keywords in that campaign.
For manual campaigns, we use the ACOS target to recommend bid changes in Bid Wizard which are then used in Automation.
For both manual and automatic campaigns, we use the ACOS target to recommend negative keywords in the Negative Keyword Wizard. We also use it to color code the ACOS column in Analytics.