Yes, you are correct. The sensor will turn blue while it is awake and ready to accept commands. When you are all done press the button one more time to take it out of “awake” mode.
As another option, I really like the device type provided by @CyrilPeponnet
If you look at it, there is a sync icon. Most battery powered Z-Wave devices are designed to “wake” every so often (this device wakes every 2 hours for 15 seconds). His device type will send config parameters when the motion sensor notifies the controller that it is awake. This way you don’t have to take it down and press the button 3 times. It is nice for me because I have to get a ladder to take down my sensor.
In my opinion this is one of the best device types I’ve seen and would be a good model for other device types to be based off of.