That's mostly it.

Changing the menu label, changes what it is called on any (other) Popup menus that reference it. Changing PopUp0 also affects the name shown in the "Knob Press Redefinition" choices. The [ir_translate] section is processed BEFORE the [hijack] section of config.ini, specifically to PREVENT the new name from confusing any translations you might have (it really does replace the name globally..).

Cheers