Enabling acceleration causes the load balancer to use the L4 engine, which is faster/more efficient than the L7 engine that gets used otherwise. At the same time none of the L7 features like SSL offload, cookie persistence, HTTP/S VIPs, app rules that do anything with L7 features like HTTP headers etc. but if you're not using any of those, then in general enabling acceleration is a good idea. The description in the Configure Load Balancer Service section of the admin guide goes into more detail as well.
Just note : Enabling acceleration switch application that is responsible for load balancing
in acceleration mode you switch between HA Proxy to LVS , also any kind of application rules are no usable.
Regarding if it a good idea or not : it depends on use case that need to be used . In most cases normal HA proxy is OK. In the past I was seen best experience let say for VNC servers with acceleration enable.
Enabling acceleration from the screen shot will not enable by default acceleration it self! It just unlock an option to be used in VIP and pools. you will need to go to VIP/Pool to enable accelleration