Yes, that's exactly what it means. When you set up mixing, servo reversing or whatever, you set it up for one model. You set up each model in it's own memory and when you switch models, you don't have to reset everything.

By contrast, non-computer transmitters, have one set of trims. If you change planes, you have to reset your trims. But what you should do is change the settings on the plane so your trims are always in the middle (on the tx).

Anyway, yeah... now you can buy multiple flight packs, install them in your planes and use one tx to control them all.