Yes it will prevent parallel / autorun events from working as those are also updated via the update function. Other triggers are handled outside the update function, so should still work.
Storing an event x/y by name sounds a bit niche for a plugin, what is tedious about your current script call? I don't know if maybe I am missing some context here but it sounds like it should be able to just be a loop through all events on the map. If you would like help with a script call, you could post on the RM Planet forums where better code formatting / discussion can exist, itch comment code discussions leave a lot to be desired imo: https://forum.rmplanet.com/