The short answer to that question is no. As I type there are no flood warnings for the Colorado River below La Grange. A rise in the Colorado is expected at Columbus, but will stay below flood stage. This flooding will not impact the Brazos River in southeast Texas.
The Llano River in Llano is however, going to make a second rise and crest on Wednesday (above) as rain that fell 12 hours ago brings a second rise. That's after a record crest Tuesday morning flooded homes, washed out bridges and nearly reached the base of 'Inks' bridge in Llano. The river there is usually not much more than a trickle (below).
But rose almost 40' Tuesday morning (below).
Heavy rains began falling three days ago. Rain totals of up to 10 inches (below) fell in the Llano River water shed. That means all that rain, after hitting the ground, headed right for the Llano. All at once.
The heavy rain came from the remnants of two tropical systems in the Pacific. Sergio's remnant moisture crossed the state last Saturday, saturating the grounds. Now, it's moisture from Tara's remnants that threatens Texas with more heavy rain.