No. It's not connected to the ongoing continuity in any way.
There are a ton of crossovers that aren't in the crossover column - Invasion, Federation, No Time Like the Past - because it isn't trying to be all-encompassing. It's trying to indicate connections that might otherwise be difficult for a reader to determine.
Anyone looking at that novel on amazon is going to see that it's a standalone crossover featuring Seven of Nine. Anyone looking at Typhon Pact: Seize The Fire isn't, for instance, going to know that it takes place between Synthesis and Fallen Gods. So that information is on the flowchart.
Now, if the next Beyer Voyager novel has a long speech from Seven about this one time she met Jim Kirk - yes, we would add No Time Like the Past.