No. You have probably set the Wrap to Column option as a default setting or for the current document. Using this feature in NoteTab Light and Std turns off regular word wrap behavior and inserts line breaks to force column wrap. Unchecking Wrap to Column at a later stage does not remove the inserted line breaks. Please consider upgrading your license to NoteTab Pro if you need column wrap that updates in real time like regular word wrap.
If you purchased the NoteTab Pro/Std package, then simply begin using NoteTab Pro instead of Std.