Boris flies a different plane than I, but the premise is the same...
We have T/O, T/O 1, and T/O 2 settings, depending on runway, conditions, weight, aerodata, etc. The TO 1 and 2 are derated takeoff settings, meaning we're saving fuel and the engines, but can still lift off in those conditions.
We can always advance the thrust levers to get more power, or select T/O instead of T/O 1. So, saying they can select T/O means they aren't doing a derated takeoff. So the roundabout answer is yes, it means takeoff but not like you think.
Did that make sense?