No, not specicially. You would generally assign the right to view unpublished items or not, then the publish status of the albums would determine what they can see.
Managing rights have nothing to do with the visibility. Naturally that are superior rights so if they have manage rights to an album, they can and need to see it naturally.
Unpublished albums (items in general) can be accessed if you know the link to them. See the list of rights here: http://www.zenphoto.org/news/an-overview-of-zenphoto-users/