That's what it means, yep. In fact, what you see there is a lot of VCAs, not just the channel levels. The panning is under VCA control, as are your two AUX bus levels. Note, also, that you can sum before the VCAs on the mono strips by using the A+B to mix two incoming audio signals at a unity level. And while the mutes and master don't have VCA automation per se, it's easy enough to 1) send a gate to the VCA per strip and switch the gate on and off for muting, and 2) you can insert a stereo VCA into the main bus insert point and then put the stereo master level under VCA automation that way. Quite an intricate little device...