No it does not. The embed code references the form ID for each form as well as your Munchkin ID.
Please note, that if you happened to make a new form, the embed code will change to reference the new form.
See below, where MYFORMID and MYMUNCHKINID are generated for you when you select the embed code option from the form. I replaced the actual values in this example, but the entire code will be generated for you.