That's exactly my concern. I did manage to test it out. As a Member I created a new thread and made sure I was following it. As Admin I moved it to an area inaccessible to Members and made a post to it.
I, as a Member did not get an email with the contents of that new post, and the thread was no longer on my Follow List. As Admin I moved the thread back into the public area and it was still not on my Member's Follow List.
So... All is working as it should!!!