Definitely not. What are you going to do if some of the fabrics shrink just enough that you can't get all the cuts you need out of them? Shrinkage is not an issue after the layers are quilted, especially if the quilting lines are not far apart, as the batting controls how much the fabrics can shrink.
If you are wondering about having a bleeder in the bunch, after cutting out your pieces place a scrap of each in a clear plastic tumbler of water and leave overnight. If it is a bleeder, you will see some dye leaking into the water. Take the damp fabric and rub it against any white or light fabric scraps in the kit to see if dye transfers that way. Chances are nothing will be a big problem and you can relax a little about dye bleeds.
If the tests show no problems, you are safe to do the first wash of the finished quilt in cold water with color catchers; just make sure you use a washing machine that uses *lots* of water so any small dye bleeds are sufficiently diluted. Also do not let the quilt sit damp after washing; transfer immediately to a dryer or lay out flat to dry.
If the tests show problems or if you have any lingering fear about bleeds, then use the same process as above for the first wash except use Synthrapol and hot water (Synthapol requires hot water to activate).