Does Z show current placement on Screen?

I have had the ArcDroid for couple weeks now. Working thru some issues and learning a lot.
My question pertains to the Z position on the handheld screen. When moving the arm around, the x and y coordinates change with the position noting the position of the arm. But the Z display will not change when I raise or lower the Z axis.

Does the Z display only show what the cut height is set at, and not the current position of the actual torch?

It shows the cut height setting.