Yes it is because the parsing function uses the labels to know where a cheat starts and ends. Yes the enable/disable option is for turning on/off the effects of all cheats. There is one exception: If a cheat writes to an area of RAM that doesn't get updated by the game to have the normal value (like an asm hack code) then the effects won't be turned off until that part of RAM is reloaded (usually by exiting/reentering the game).