I think so, if it's like other engines. T is top dead-centre and F is the 'Fire' point at idle. These marks are used to set-up the engine before it's actually run.
Ignition is advanced and retarded according to speed and load, and I think the Honda tune-up instructions are in two stages: first, with the engine off, set correctly for start and idle; second, with the engine running off-load at high rpm, that the timing has shifted correctly. When the engine is run fast the timing changes and the unmarked pair should align, as revealed by the strobe.
Ignition timing is changed to get the best burn in the time available during a stroke. This varies depending on load which changes up-hill, down-hill, on the flat, accelerating, etc. It can be altered to favour fuel economy, performance or to reduce pollution. Ignition control on a basic motorbike is rather simplistic compared with the sensor rich engine management unit on a modern car, which pulls every trick in the book to optimise engine effectiveness. Which is great until it goes wrong and not even the dealer understands how to fix it!
Dave