Yes, that's correct. At this time, we support only single-orientation apps—portrait only or landscape only. At some point in the near future, we're going to support both portrait and landscape articles within the app. But there are no plans to support dual-orientation articles in which you rotate the device to see a different layout of the same article.
Does this mean that it will no longer automatically rotate? That I'm stuck in either Portrait or Landscape based on how I build the app? I ask because we were using a multi-folio app before that featured both portrait and landscape folios.
Are you viewing 1024x768 articles on an iPad? Did you create a portrait app? If so, your landscape articles will be letterboxed. When you build the app, there is an option to choose Portrait or Landscape for both phones and tablets. My guess is that you chose Portrait when you built the app.