This article answers to the question of who can access a page with visibility limitations.
I have limited the accessibility of a page in the menu to a specific user list. Do other participants see this page in the menu? Or do a participant only see the pages that they have access to?
Yes, participants only see the pages they have access to. Admins see all pages. The locker symbol shows the admins what pages that are set with limited access (seen in Edit menu-view).