No, it's not a CS place. It's a bar/lounge at the Yacht Club. They use it to serve continental breakfast in the mornings, because there aren't a lot of places at the Epcot resorts where one can get a CS breakfast. That is the only CS meal you can get there.
Continental breakfast will include things like baked goods, cereal, and fresh fruit. This isn't going to be a hot breakfast.
The Disney website is in error if it says the Ale & Compass serves CS meals at lunch and dinner.