Yes, you will overwrite the boot partition but it shouldn't cause issues with booting windows. Most of the people that do have issues is with booting zorin, not windows. Any issues with booting windows has turned out to be corruption in the drive due to hardware failure. Make sure you choose that partition, not the drive (ex. sda1 vs sda).
The 700 MB partition is your recovery partition. I was referring to any partition you may use to share info between OS's. I do this, but it is an optional thing, You will still be able to see and mount the windows partition in Zorin. You won't be able to mount the Zorin partition in windows (Windows doesn't understand the ext* series of filesystems).
You should be good to go. Remember, anything that can be broken can be fixed. Be sure to backup personal data prior to install and dive in. Nothing gets accomplished by worry or procrastination. Relax and it will be ok.