You do have to turn that effect off before rendering any images. Or,:
To remove the pan and zoom effect from a rendered image:
1. Select the image in the clip viewer.
2. Click the Photos button to open the Photos pane.
3. Deselect the Ken Burns Effect checkbox.
4. Click Update.
You can shift-click the first clip and then the last to select all, or the standard cmd-A will select all clips, removing the effect seem to take only a short time.