Yep. (though since I usually add the textures after I'm done with the colours I just merge the colour layers that's in the area I want the texture to be, click select-inverse on the colour layer and delete on the texture layer. No shaping needed.
)
There's a lot of nice textures that are good to use on an entire canvas, to set the mood or make the colours more uniform/fit together, but it's also a good way to give texture to clothes, plants, trees etc.