In some scenarios, yeah, there can be quite a severe shift in FR. That's not going to happen so much with a Q701.
If you take the Little Dot spec literally, then you can calculate the output impedance from the given power delivery numbers. It's 187 mW into 300 ohms and 250 mW into 120 ohms. Here I assume the amp isn't current limited into 120 ohms, which it most probably idn't.
V_delivered1 = sqrt(P * Z) = sqrt(0.187 * 300) = 7.5 volts into 300 ohms
V_delivered2 = sqrt(P * Z) = sqrt(0.250 * 120) = 5.5 volts into 120 ohms
V_delivered1 = 7.5 = V_s * Z_L / (Z_s + Z_L) = V_s * 300 / (Z_s + 300)
V_delivered2 = 5.5 = V_s * Z_L / (Z_s + Z_L) = V_s * 120 / (Z_s + 120)
That implies the V_s (maximum voltage from the source) is 9.9V and the output impedance is 96 ohms or so.
However, this calculation means that the 500 mW into 32 ohms is impossible because that implies the max voltage a 32 ohms load would get is 9.9 * 32 / (96 + 32) = 2.475 V for like 191 mW, so there seems to be something wrong with the specs. I would guess that the output impedance is actually significantly lower than 96 ohms.
Even were the output impedance like 96 ohms, you'd only be looking at a dB shift or two in the FR for the Q701 up until 10 kHz or so (slightly more than that above that, all the way to 20 kHz).