A:
Yes, that is basically what it does, however the fan does cycle on and of even when it is not cooling. I've copied the full explanantion on the Energy Saver mode from the instruction manual below:
In the energy saver mode, the fan will continue to run for 1 minute
after the compressor shuts off. The fan then cycles on
for 20 seconds at 10 minute intervals until the room temperature
is above the set temperature, at which time the compressor
turns back on.
Thank You,
Frigidaire