Yes, this is correct! We have been making good progress and have released a new version that is currently being tested by Ledger.
Specifically, we were concerned about ensuring that this new app would enable the unlocking of funds for users who had previously used the non-shielded Zcash app. We have successfully run several tests and were able to unlock funds via our adapted ZEC Wallet Lite and the new Zcash Shielded app. These results are very promising, and if Ledger confirms them through their testing, we will be a big step closer to a public release.
Additionally, we have added support in the new app for the newly released device, Flex.