Oh yes! I have seen it spleet my fleets and send the ships to hell and beoynd putting my timetables several turns behind sometimes as I have to reassemble my fleets. Been awhile since I saw that though so it probably wasn't in the latest Version. I'm making damn sure I don't miss any turns even if that means just sending in a dummy turn with no new orders. I also had it put build orders for carriers in all my empty base space yards which resulted in a fleet of 30+ carriers being built with no fighters to fill them. Took forever to build fighters for them all. And they all died.
It also messes with designs which is a major pain to restore. Builds sats and weapon platforms (with bad designs). Gives orders to ships with no orders. I think I've seen it move pop but I'm not sure.
The bottom line is that when you have that option selected the AI shouldn't do ****. And it should be default!