Why does adding a simple queue to the END of the chain with a target address of 0.0.0.0/0 or simply no target address seem to shape ALL traffic, INCLUDING traffic that is targeted by IP in the chain above it?
In my experience, it doesn't.
My first implementation of MT was to create an MT replacement for a layer 2 bandwidth shaping device that we had.... Which I did as I described above... that device works to this day. Originally V2.9.39 now V2.9.40.
In my case, The final queue in the chain applies to the entire applicable /24, EG: 12.x.x.x/24
I'm telling ya, if someone has a source IP of 12.x.x.x.5 (for example) they are controled by the Queue with that target address/32, the final queue has zero effect.
Anyone not shaped by a queue above the final queue in the chain is shaped by the final queue. And that is the only time the final queue comes into action.
I've looked at my config, and can not think of a configuration that might cause what you are seeing....
What version are you running?