Yes, users can still add products to their cart and place another order.
Just to explain what I am trying to do — if a user places an order and their WooCommerce Order Status is “Confirmed”, I want to prevent them from placing another order for x amount of time.
I have NOT enabled the setting: Limits -> All products (and have not set a limit # per product). I do not want to limit which product a user buys, just when they are able to place a second order.