yep...it means the procedures will get fired from the job
You can see content of the job visually by connecting to server in SQL Server management studio. then goto object explorer and Expand server -> sql server agent -> jobs to see all the jobs. go to sample job right click and select properties to see properties and also each of the steps involved.
yep..the procedures will be called one after other. The second step code posted in also creating the step with exec procedure as its statement. the @job_id =@jobid will assign the correct jobid of the job to the step to indicate its a step under that job.