I have to ask then, does the assumption allow for the idea of good and evil? Or right and wrong?
Very loosely. Good and evil, right and wrong, are subjective in this case. They are whatever the hell you want them to be, really. A biased racist may feel as though he's being righteous. In this case, he would be doing "good," even though his actions are doing harm. Basically, one's attempt to do the right thing, even if they are blinded or making poor judgments, is "good" regardless of the actual result. That is subjective morality. Does an objective morality exist, a set of "right and wrong" rules that are morally superior? That is a very difficult question, but I think that the answer may be yes, of course with the assumptions being applied.
Hypothetically, imagine that you could gauge how positively or negatively a person is affected by an action. This would of course be very complex, but since the universe is deterministic, such a thing could be calculated. Next, you compute the perfect set of rules that will have the highest possible net gain of positive effect on peoples' lives.
Making decisions (again, deterministic ones, not products of free will) that are closer to this perfect set of rules is considered "more moral." And in descending moral value is every other possible set of rules that a person may live by, from the most truly righteous down to the most evil.
That is what I think of "objective" morality.