See sub-events in the manual. The answer is no - just like with actions, once the conditions are met, everything else runs without re-checking conditions. (Re-checking everything would likely cause such a high performance overhead as to make it unusable!)
You can also check details like this yourself by making a quick test project. Set up some sub-events that only run when a variable is a particular value, change the value in the sub-events, and see if the remaining sub-events continue to run.