Given that the Active Recovery program is a "fix", do I need to reformat the drive in order to protect the integrity and stability of it after the partitions have been restored and the files/folders have been backed up?

It is always a good idea to back up the files, but there is no yes or no answer for that question. The software does not know what caused the problem and can not stop it from happening again. If it was a one time thing it will not make a difference.