Yes, that's right. I tried an experiment and the clamp-meter arrow does indeed show the current direction relative to, say, the transient plot polarity. So Mike's observation is not right... if you observe a current through a resistor, then flip the resistor, both the arrow and the plotted current reverse, so everything is still right.
A "flip ends" command for a 2-terminal device would be handy, though, so you could aim the arrows the most logical way.
John
walking the puppy at 3 AM