Yes. In Find & Replace turnsheets, the edits specified by each row of the turnsheet are applied in order, from top-to-bottom. The next edit will be affected by the previous edits. So, the order of the rows is important in this type of workflow.
In Merge turnsheets, the edits specified by each column are applied in order from left-to-right, so the order of columns is important in this type of workflow.
Example:
Document:
Office work
Instructions:
Find: work
Replace: & Dragons
Find: Office & Dragons
Replace: Awesome
Result:
Awesome