I think so.
Another cool features of arranger is possibility to assign different tempo per row and scenes for Scene Á and Scene B (i.e. if you have 1 pattern with assigned scenes and you want to have the same pattern with different set of scenes – it is not necessary to copy pattern to new slot and assign new scenes – you can use arranger for this: copy row with pattern (fn + down) and assign needed scenes) .
Project can store many arrangements thus you can create shorter or longer versions of your live set. Read manual again and just think how you can use it in your case.