No, it doesn't. It's not automatic. Sparkpeople recommends that you go in and double-check and save your program settings every 10-15 lbs. Do nutrition first, then fitness, sometimes updating nutrition can mess up your fitness goals. Even if there are no changes, that may be enough to trigger a recalculation in your ranges.
Also be aware you may need to adjust your weekly weight loss goals. A good aim is about 3% of your total remaining goal. This is because the less you have to lose, the slower you can lose it! If you're over 200 lbs, 2 lbs a week is doable... it's not possible if you've got 10 lbs to lose. :)