Yes, anything there that is marked as a token action will only show when the associated token is selected. It is also a little simpler to call attributes in the ability macros on that tab, since they look for the attribute on that sheet by default. Instead of needing to do @{selected|attributename} or @{charactername|attributename} like you do in the collections tab macros, you can just use @{attributename} to pull values off of the sheet where you are writing the ability macro. There are still times you may want to use selected, but those are mostly for trickier use of macros and sheets like the macro character sheet idea from the Roll20 Tricks thread.