Why would it?
If you leave both values blank, you end up with a query like this:
SELECT * from $table_name
WHERE (active = 'yes'
and value_1 like '%%'
OR value_2 like '%%')
that is a perfectly ok query, it just doesn't make much sense.
What it will do is look for all records where active=yes, and value_1 is 'anything followed by anything', and value_2 is 'anything followed by anything'
Effectively, that just means it will list all records where active=yes (the other two are always true anyway)