Yea, profile specifics are per camera.
You set up the switching on the Schedule tab, and then any other tab with a Profile drop down is where you set the specifics for that Profile for that certain camera. You select the Profile from the drop down and any changes made apply only to that Profile. You need to make sure you check any settings on any tab with a Profile drop down because once you enable the schedule it will use whatever settings are set for that Profile.
I use this to switch how I record. Profile 1 is Sunrise to Sunset with Continuous Sub + Trigger. Profile 2 is Sunset to Sunrise with Continuous.
You need to make sure to check the Override check box though for this schedule to work.