Hi Jenn,
at your service ;).
No, it means that it won't track behaviour from visitors that have chosen this option in their web browser. Firefox, for instance, allows you to let the browser tell websites that you don't want to be tracked, but it's up to the site to honour this request. By selecting 'Do not track' you will honour this request, and you will track all behaviour, except for individuals that have chosen this option in their browser.
Cheers,