Yes, that is correct - see the KAT100 manual page 32.
The display is the power and SWR.
It is rarely used, and is only intended to display the power with the L
and C values that had been previously set by a TUNE.
That SWR displayed is that at the input of the tuner. It cannot be used
to measure the SWR of the antenna unless you change the ATU menu to CAL
(That sets the L and C selection to bypass).