Yes and no. In theory your toe should never change with ride height.

If you move the coil over up lets say a 1/4 to 1/2 inch you wont be too far off. But if you start moving the coilover over those numbers then yes your really going to start to see some alignment changes.

If you set the car level when you do the alignment then decided to rasie the ass end to get some rake your caster will also change along with it.

I know Mustangs look sexy as hell sittin low and level but its not always the best option unless the car was built that way (4 link rear, tubbed wheels wheels tuckin the tires)

Like this: http://image.musclemustangfastfords....front_view.jpg

Too many people buy coilovers and set them as low as possible then can not figure out why they will not hook

What kind of suspension you working with in the back?