When an interrupt occurs, the Global Interrupt Enable I-bit is cleared and all interrupts are dis- abled. The user software can write logic one to the I-bit to enable nested interrupts. All enabled interrupts can then interrupt the current interrupt routine. The I-bit is automatically set when a Return from Interrupt instruction – RETI – is executed.
So yes, Interrupts are disabled by the chip itself. Thus it will not generate repeated interrupts while servicing the function.
I'm not sure if you're asking me, but I'll tell you that time inside the function, from the perspective of the library, is not critical. Whether it will cause problems to your sketch, or not, you'll have to be aware of as you create your project.