For books, yes, I definitely have a picture of the action in my head. It's not always particularly detailed - it depends on how interested I am in what I'm reading - but it is something I do pretty much automatically.
For music, not so much. It depends entirely on the song. For example, when listening to Mirror of Souls (the song) or Symphony X's the Odyssey,, I do have a mental image. I guess it's because those songs are telling a story. Also, with songs like New Jerusalem, which have strong imagery. But for most songs, seldom.